Making extra payments on a loan does all of the following, except
A) reduces the total amount of interest paid.
B) gives you extra income for living expenses.
C) reduces the maturity of the loan.
D) helps assure your good credit rating.
Correct Answer:
Verified
Q31: Having a longer-term loan
A) increases the interest
Q32: Collateral
A) gives the lender additional recourse if
Q33: Which of the following is not usually
Q34: In a loan repayment schedule, the term
Q35: Regarding the amount of money borrowed on
Q37: What is the correct chronological order of
Q38: Which of the following is not included
Q39: All of the following are true regarding
Q40: Over the life of a loan, the
Q41: If you double the principal repayment called
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