When taking out a loan, does the borrower get to decide when he wants to pay off
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Question:
When taking out a loan, does the borrower get to decide when he wants to pay off the interest or does the bank add on the interest owed to the loan debt? Elaborate the condition for loan briefly.
When a person makes a loan payment, does part of that payment pay off the interest?
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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