The date on which the repayment for a loan is due is called the ________ date.

Question

Quizplus · Accepted Answer

The term "maturity date" refers to the date on which the borrower is expected to fully pay off the loan, including both the principal and any accrued interest. This date is often specified in the loan agreement and is agreed upon by both the borrower and the lender. Therefore, option A) maturity is the correct choice.

Option B) deferment refers to the postponement of loan payments for a certain period of time, which is usually agreed upon by the lender and the borrower.

Option C) deadline refers to a specific date or time by which a certain task or activity must be completed. This term is not commonly used in reference to loan repayments.

Option D) face value refers to the amount of money that a bond or other security will be worth at maturity. It is not directly related to loan repayments.

Option E) par refers to the nominal or face value of a stock or bond, which is used as a benchmark for determining its current market value. Again, this term is not directly related to loan repayments.

The Date on Which the Repayment for a Loan Is