The amount you will have to pay over a given period of time until the loan is repaid is called ________.

Question

Quizplus · Accepted Answer

The term "debt service" refers to the total amount of money that will have to be paid over a period of time to repay a loan, including both principal and interest payments. It is the most accurate term that describes a loan repayment obligation. Choice A (payback) and B (principal) only describe a single aspect of the repayment process and do not capture the full obligation. Choice C (present value) refers to the current value of future cash flows and is not directly related to loan repayment.

The Amount You Will Have to Pay Over a Given