Which of the Following Correctly Describes an Installment Note

question 28

Multiple Choice

Which of the following correctly describes an installment note?

• A)An installment note requires equal interest payments with the entire principal balance paid at maturity.
• B)An installment note requires equal payments of interest and principal in which the amount of interest decreases over the life of the note.
• C)An installment note requires equal payments of interest and principal in which the amount of interest increases over the life of the note.
• D)The installment note requires decreasing payments of interest and principal in which the amount of interest remains constant over the life of the note.

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Definitions:

Crime

An action or omission that constitutes an offense and is punishable by law.

Law

A set of regulations established and implemented by social or governmental bodies to govern conduct.

Classical Criminology

A school of thought in criminology that views behavior as stemming from free will, demands accountability and responsibility, and stresses the importance of deterrence.

Biological Perspectives

Viewpoints in science and psychology that emphasize genetic, hormonal, and neurophysiological processes as the primary drivers of human behavior and traits.