A ________ is a type of loan that has the same cash flow payment every year throughout the life of the loan.
A) discount loan
B) simple loan
C) fixed-payment loan
D) interest-free loan

Question

Quizplus · Accepted Answer

A fixed-payment loan is a type of loan where the borrower makes the same cash flow payment every year throughout the life of the loan. This type of loan is also known as an installment loan or a term loan. The fixed payments include both interest and principal, so the loan is gradually paid off over time.

A ________ Is a Type of Loan That Has the Same