When Making a Partial Payment Before the Maturity Date, the U.S

question 41

Multiple Choice

When making a partial payment before the maturity date, the U.S. Rule states:

• A) any partial loan payment is applied equally to principal and interest
• B) any partial loan payment first reduces the adjusted principal
• C) any partial loan payment first reduces the principal
• D) any partial loan payment first covers any interest that has accumulated

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