The __________ (Two Words) Is a National Dollar Amount That

question 31

Short Answer

The __________ (two words) is a national dollar amount that is applied to all services paid on the basis of the MFS.

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Definitions:

Equal Payments

Fixed payments made consistently over the duration of a loan or mortgage agreement.

Loan Date

The date on which a loan agreement is executed and from which interest starts accruing.

Final Payment

The last payment made to settle the balance of a financial obligation.

Interest Rate

The rate at which borrowers are charged interest for the use of funds they have loaned from a lender.