Default is the failure of a borrower to make a scheduled interest payment.

Name: Default is the failure of a borrower to make a scheduled interest payment.
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Question

Quizplus · Accepted Answer

Default refers to the failure of a borrower to meet their financial obligations or repay a loan based on the agreed upon terms. This can include missed interest payments, principal repayments, or other financial obligations. So, it is true that default is the failure of a borrower to make a scheduled interest payment.

Default Is the Failure of a Borrower to Make a Scheduled