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:

Specific Requirements

Particular needs or conditions that are required to be met for a certain task, project, or situation.

General Population

The total group of individuals or the mainstream society from which a statistical sample can be drawn.

Personality Disorder

A type of mental disorder marked by rigid and unhealthy patterns of thinking, functioning, and behaving.

Neuroticism

A personality trait characterized by emotional instability, anxiety, moodiness, worry, and a tendency toward negative emotional states.