Which of the Following Is True of Installment Loans

question 14

Multiple Choice

Which of the following is true of installment loans?

• A)Installment loans require the principal to be repaid in a single payment.
• B)Installment loans,like home equity loans,offer the benefit of tax deductibility on the interest paid on them.
• C)Installment loans are secured using only second mortgages.
• D)Installment loans are issued only by the federal government.
• E)Installment loans are revolving credit lines from which consumers can borrow,repay,and reborrow.

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An accounting method used to track costs and evaluate the profitability of individual jobs, suitable for companies that produce custom products or jobs.

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