Which of the Following Are True of Fixed Payment Loans

question 5

Multiple Choice

Which of the following are true of fixed payment loans?

• A) The borrower repays both the principal and interest at the maturity date.
• B) Installment loans and mortgages are frequently of the fixed payment type.
• C) The borrower pays interest periodically and the principal at the maturity date.
• D) Commercial loans to businesses are often of this type.

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Definitions:

Expert Witness

A person with specialized knowledge, skills, or experience in a particular field who is hired to testify in court to help understand complex subjects.

Credible

Deserving of trust or belief; reliable and believable.

Summarizing

The process of briefly restating the main points of a piece of writing, speech, or argument.

Client Interview

A discussion or meeting between a professional, such as a lawyer, and a client to gather information, offer advice, or establish a representation agreement.