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Most Loans Require the Borrower to Place a Reasonable Down

question 41

True/False

Most loans require the borrower to place a reasonable down payment. Leases generally do require an initial down payment, beyond the first and last monthly payment.


Definitions:

Utility

Utility refers to the total satisfaction received from consuming a particular good or service.

Gasoline

A combustible, easily evaporated substance obtained from crude oil, primarily utilized as a propellant in internal combustion engines.

Auto Repairs

Maintenance and repair services for vehicles, focusing on ensuring functionality and safety.

Hours Per Day

The amount of time in hours that is utilized for a specific activity or operation within a 24-hour period.

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