Loans on which the interest is paid in advance are often called
A) premium loans.
B) reduced-principle loans.
C) called loans.
D) discount loans.

Name: Loans on which the interest is paid in advance are often called A) premium loans. B) reduced-principle loans. C) called loans. D) discount loans.
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Question

Quizplus · Accepted Answer

Loans on which the interest is paid in advance are called discount loans, as the interest is discounted from the principal amount upfront.

Loans on Which the Interest Is Paid in Advance Are