The declining-balance method of calculating interest results in amortization of the amount owed.
Correct Answer:
Verified
Q81: Noninstallment credit includes
A)single-payment loans.
B)open-end credit.
C)monthly-payment loans.
D)both single-payment
Q82: With declining-balance loans,there are no prepayment penalties.
Q83: The outstanding balance owed on a debt
Q84: Single-payment,open-end,and service credit are lumped together under
Q85: Jason took his friend Jennifer out for
Q87: Which of the following is not an
Q88: On an installment loan,the APR will always
Q89: A cash advance can be obtained by
Q90: When the declining-balance method of calculating interest
Q91: The APR is approximately double the add-on
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents