The prepayment privilege allows the borrower to make early cash payments toward the principal balance on their loan.

Name: The prepayment privilege allows the borrower to make early cash payments toward the principal balance on their loan.
Brand: Quizplus
Rating: 4.9 (46 reviews)

Question

Quizplus · Accepted Answer

The statement is true. The prepayment privilege is a feature of many loan agreements that allows the borrower to pay off their debt ahead of schedule, potentially saving them money in interest charges.

The Prepayment Privilege Allows the Borrower to Make Early Cash