Once You Begin Making Payments on an Amortization Schedule for a Loan

question 73

True/False

Once you begin making payments on an amortization schedule for a loan such as a mortgage or car loan,most contracts clearly state that you may NOT pay off the loan early.

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Definitions:

Critical Thinker

A person who actively evaluates information, arguments, and evidence in a thoughtful and systematic way.

Linguistic Skills

The abilities involved in the comprehension, use, and production of language, including reading, writing, speaking, and listening.

Analytic Skills

The ability to analyze information and solve problems on a complex level through critical thinking and evaluation.

Left Half

Referring to the left side of a symmetrical object or entity, often used in contexts such as the left hemisphere of the brain, which is associated with analytical and language functions.