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Is it true that interest is paid at the end of the loan term on a discount loan?
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What is a discounted bank loan?
it is when interest is paid in advance at the beginning of the loan term on a discount loan
What is an advantage of a shorter-term loan?
less interest paid...
What is an advantage of a shorter-term (such as 15 years) loan?
less interest paid
What is a advantage of a shorter-term such as 15 years loan?
less interest paid
How much will payments be a month when you take out a 7000 dollar loan?
It depends on the term of the loan, the interest rate, and details of the loan contract that may vary widely. For example, the contract may call for payment only of the interest until the end of the term, at which time the loan amount ($7000) must be paid. Or the contract may call for monthly payments calculated to pay the interest plus a portion of the loan amount so that the loan will be paid in full at the end of the term.
What is a discounted bank loan?
it is when interest is paid in advance at the beginning of the loan term on a discount loan
What is an advantage of a shorter-term loan?
less interest paid...
What is an advantage of a shorter-term (such as 15 years) loan?
less interest paid
What is a advantage of a shorter-term such as 15 years loan?
less interest paid
How much will payments be a month when you take out a 7000 dollar loan?
It depends on the term of the loan, the interest rate, and details of the loan contract that may vary widely. For example, the contract may call for payment only of the interest until the end of the term, at which time the loan amount ($7000) must be paid. Or the contract may call for monthly payments calculated to pay the interest plus a portion of the loan amount so that the loan will be paid in full at the end of the term.
Is it better to get a high interest short term loan or a low interest long term loan?
It depends on how long you need the loan for and how long it would take for you to complete the payment. But in general a low interest long term loan means a higher interest payment over the life of the loan where as a high interest short term loan means less amount of interest payment over the life of the loan.
What is true about loan terms?
A longer term equals a lower monthly payment and a higher dollar amount of interest paid.
What is meant by loan capital?
short term and long term liabilities, which have due dates and the interest is paid. for example , debentures. compnay raises funds by issuing debentures and thes funds are loan capital. which means capital raised by loan.
What is the term for a loan in which the interest rate does not change during the entire term of the loan?
a fixed rate loan.
Which of these statements about loan terms is true?
A longer term equals a lower monthly payment and a higher dollar amount of interest paid.
What statement is true about loan terms?
A longer term equals a lower monthly payment and a higher dollar amount of interest paid.
What is the difference between a Term Loan and demand loan?
Demand Loan Loan with no specific maturity date, but payable at any time. Only interest is paid until the principal is paid off, or until the lender demands repayment of principal. The borrower may, however, pay off the loan early, without incurring a prepayment penalty. If the funds are advanced to a broker, it is referred to as a call loan. Term Loan A loan from a bank for a specific amount that has a specified repayment schedule and a floating interest rate. Term loans almost always mature between one and 10 years.
