Jaressayf5309 Jaressayf5309

26-03-2024
Business

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John has a loan with equal regular payments of principal and interest. Long before the debt is satisfied, the balance is due in a payment substantially larger than all the others. This is best described as a ________.
1) Amortizing loan
2) Balloon loan
3) Fixed-rate loan
4) Variable-rate loan

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