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What do you call it when someone pays back a loan quickly?
A sudden debt pay off is when someone pays back a loan quickly.
What do you call it when somebody pays back a loan quickly?
When someone pays back a loan quickly, it is often referred to as "early repayment" or "prepayment." This can occur when a borrower pays off the loan before its scheduled due date, sometimes resulting in reduced interest costs. Some lenders may charge a prepayment penalty, while others might offer incentives for early repayment.
What do you call it when someone pays back a Loan Quickly worksheet answer key?
When someone pays back a loan quickly, it is often referred to as making an "early repayment" or "prepayment." This can help borrowers save on interest costs and may improve their credit score. Some loans may have prepayment penalties, so it's important to check the loan terms before doing so.
What Do You Call When Someone Pays Back a Loan Quick?
When someone pays back a loan quickly, it is often referred to as "early repayment" or "early payoff." This can sometimes result in lower overall interest costs, depending on the loan terms. Additionally, some lenders may offer incentives for borrowers who repay their loans ahead of schedule.
Who pays the loan if a car is repossessed?
The one who BORROWED the money and/or the on who COSIGNED the loan.
What do you call it when someone pays back a loan quickly?
A sudden debt pay off is when someone pays back a loan quickly.
What do you call it when somebody pays back a loan quickly?
When someone pays back a loan quickly, it is often referred to as "early repayment" or "prepayment." This can occur when a borrower pays off the loan before its scheduled due date, sometimes resulting in reduced interest costs. Some lenders may charge a prepayment penalty, while others might offer incentives for early repayment.
What do you call it when someone pays back a loan quiclky?
Surprising
What do you call it when someone pays back a Loan Quickly worksheet answer key?
When someone pays back a loan quickly, it is often referred to as making an "early repayment" or "prepayment." This can help borrowers save on interest costs and may improve their credit score. Some loans may have prepayment penalties, so it's important to check the loan terms before doing so.
What Do You Call When Someone Pays Back a Loan Quick?
When someone pays back a loan quickly, it is often referred to as "early repayment" or "early payoff." This can sometimes result in lower overall interest costs, depending on the loan terms. Additionally, some lenders may offer incentives for borrowers who repay their loans ahead of schedule.
What do you call a loan tis obtained by the consumer who keeps the entire amount of the loan for a specific period of time and pays back the loan amount plus interests at the end of the loan period?
term loan:)
What is the answer to algebra wth soluion for What do you call it when someone pays back a loan quickly?
What you're describing, when someone pays back a loan quickly, is often referred to as "early repayment" or "early payoff" of the loan. This means the borrower is making payments ahead of the scheduled repayment plan or paying off the entire loan balance before the agreed-upon term ends. In terms of algebra, if you want to represent this concept mathematically, you can use variables and equations. For example, let's say: A represents the initial loan amount. r represents the annual interest rate (as a decimal). t represents the time period (in years) for the loan. The standard formula to calculate the total amount paid on a loan is: Total Amount Paid = A + A * r * t If someone pays back the loan quickly, they would reduce the value of 't' (time). The solution would involve modifying the equation to reflect the early repayment, which would result in paying less interest and possibly reducing the total amount paid. The specific solution would depend on the details of the loan and the early repayment terms.
When a borrower pays back a loan both the principal and the interest must be repaid What is the total amount you would pay back on a simple interest loan with a principal of 10500 at 6.3 percent for?
13,807.50
Who pays the loan if a car is repossessed?
The one who BORROWED the money and/or the on who COSIGNED the loan.
If you take out a loan and then you die who pays for it?
Either insurance or the estate. Some lending institutions provide "credit life insurance" which pays off the loan. If that is not part of the loan, the estate will be required to sell assets to cover the loan.
Do you have to pay the bank back for a vehicle if it gets wrecked and the bank pays it off?
Yes, unless the amount of the loan was covered by the insurance.
How do you distribute if one heir pays cash in to the estate?
It depends on why the heir paid cash to the estate. If it was a loan to the estate, it should be paid back first. If it was to pay the estate back for a loan, it is divided up like the rest of the assets.
