A Loan That Is Paid Back in a Single Lump

question 60

Multiple Choice

A loan that is paid back in a single lump sum payment at the due date of the loan is commonly called a(n)

• A)fully amortized loan.
• B)balloon loan.
• C)installment loan.
• D)secured loan.
• E)none of the above.

---

Definitions:

Psychological Disorders

Mental health conditions characterized by disturbances in thought, emotion, or behavior.

Mood Disorders

Psychological disorders characterized by the elevation or lowering of a person's mood, such as depression or bipolar disorder.

Schizophrenia

A complex, chronic mental health disorder characterized by symptoms such as delusions, hallucinations, and disordered thinking, affecting a person's ability to think clearly, manage emotions, make decisions, and relate to others.

Substance Use Disorders

A condition characterized by an unhealthy pattern of substance use leading to significant impairment, distress, and the inability to control substance use.