The Declining-Balance Method Is Widely Used to Calculate Interest on Installment

question 157

Multiple Choice

The declining-balance method is widely used to calculate interest on installment loans made by

• A)savings and loan associations.
• B)credit unions.
• C)consumer finance companies.
• D)both savings and loan associations and credit unions.

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Definitions:

Washers

are thin plates with a hole, typically used to distribute the load of a threaded fastener, such as a screw or nut.

Bolts

Fastening devices, typically made of metal, designed to secure or join two or more objects together through a pre-drilled hole, usually used with a nut.

Grill Parts Kit

A set of components designed to replace or enhance parts of a grill, typically including items like grates, burners, and ignition systems.

Washers

Thin plates with a hole that are typically used to distribute the load of a threaded fastener, such as a bolt or nut.