A(n)_____ loan is a loan that is repaid in a series of fixed,scheduled payments rather than in a lump sum.
A)interim
B)single-payment
C)installment
D)standard
E)consolidated

Question

Quizplus · Accepted Answer

An installment loan is a type of loan where the borrower repays the loan in equal installments or payments over a fixed period. This is a popular type of loan for personal loans, auto loans or mortgages, where the borrower pays an amount in principal and interest every month until the loan is paid off.

A(n)_____ Loan Is a Loan That Is Repaid in a Series