Loans that require payments of principal plus interest are referred to as
A)Lines of Credit.
B)instalment loans.
C)bank overdraft.
D)Bonds Payable.

Question

Quizplus · Accepted Answer

Loans that require payments of principal plus interest are commonly known as instalment loans. Lines of credit refer to a pre-approved amount of credit that can be borrowed as needed. Bank overdraft is a type of short-term loan where the borrower has overdrawn their account and is charged interest for the amount borrowed. Bonds payable are long-term debt securities issued by corporations or governments to raise capital.

Loans That Require Payments of Principal Plus Interest Are Referred