A fully amortized loan is another name for
A)a simple loan.
B)a fixed-payment loan.
C)a commercial loan.
D)an unsecured loan.

Question

Quizplus · Accepted Answer

A fully amortized loan is a type of loan where the borrower makes regular fixed payments that cover both principal and interest, resulting in the loan being fully paid off by the end of the loan term. This type of loan is also known as a fixed-payment loan, as the borrower knows exactly how much they will pay each month towards the loan.

A Fully Amortized Loan Is Another Name for