Which one of the following terms is defined as a loan wherein the regular payments,including both interest and principal amounts,are insufficient to retire the entire loan amount,which then must be repaid in one lump sum?

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A balloon loan is a type of loan in which the regular payments, including both interest and principal, are insufficient to retire the entire loan amount. At the end of the loan term, the remaining balance of the loan must be paid in one lump sum, often referred to as a balloon payment.

Which One of the Following Terms Is Defined as a Loan