Under the Discount Method for Calculating Monthly Payments on a Consumer

question 131

Multiple Choice

Under the discount method for calculating monthly payments on a consumer loan,

• A)the lender deducts the interest to be paid on the loan from the credit extended you at the beginning of the loan.
• B)you deduct the down payment on the sale from the final monthly payment.
• C)the lender reduces the monthly payments by the sale price reduction.
• D)you reduce the amount owed by interest income from an escrow account.

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Definitions:

Long-Term Objectives

Goals or targets that an organization aims to achieve over an extended period, typically over several years.

Company's Benefits

The range of perks and supports offered by an employer to its employees, which may include health insurance, retirement plans, and paid time off.

Retirement Plans

Financial strategies or programs that allow individuals to save for their retirement, often with contributions from employers.

Union Demands

Requests or requirements issued by a labor union on behalf of its members, often relating to wages, working conditions, and benefits during negotiations.