Making Extra Payments on a Loan Does All Except Which

question 81

Multiple Choice

Making extra payments on a loan does all except which of the following?

• A)Reduces the total amount of interest paid
• B)Gives you extra income for living expenses
• C)Reduces the maturity of the loan
• D)Helps assure your good credit rating

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Definitions:

Action Plan

A detailed strategy outlining the steps, resources, and timeline needed to achieve specific goals or objectives.

Tactical Plan

A short-term, specific plan that outlines actions, resources, and timelines to achieve a part of a strategic goal.

Caveat Emptor

This Latin phrase means "let the buyer beware," implying that the buyer assumes the risk for the quality and condition of goods purchased unless they are protected by warranty.

American Business

Aspects, practices, or characteristics unique to business operations in the United States, covering economic, legal, and sociocultural components.