An installment note is a debt that requires the borrower to make equal periodic payments to the lender for the term of the note.

Name: An installment note is a debt that requires the borrower to make equal periodic payments to the lender for the term of the note.
Brand: Quizplus
Rating: 5.0 (37 reviews)

Question

Quizplus · Accepted Answer

An installment note is a type of loan that requires the borrower to make equal payments over a set period of time to repay the debt. The payments are typically made monthly and include both principal and interest.

An Installment Note Is a Debt That Requires the Borrower