Ask Question
BusinessBusiness
21 December, 12:37

1. What term is used to name a type of loan in which the loan amount and interest are due in one

payment at maturity?

+4
Answers (1)
  1. 21 December, 12:47
    0
    Single payment loan

    Explanation:

    In a single payment loan type, the borrower is expected to pay back the entire principal plus interest in one lump sum.

    Single payment loans are usually short term loans, meaning payment is expected within one year. This type of loan is available to customers who have different sources of repayment other than regular income.

    Single payment loans may be referred to as time loans or balloon loans. For example, A customer may require funds to renovate his house before selling it. He may get a loan from the bank and repay it all at once upon selling the house. Single payment loans are available to high-end customers.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “1. What term is used to name a type of loan in which the loan amount and interest are due in one payment at maturity? ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Bond Features Maturity (years) 5 Face Value = $1,000Coupon Rate = 5.00%Coupon dates (Annual) Market interest rate today 5.00%Time to call (years) 3 Price if Called $1,050.00Market interest rate in Year 3 is 2.
Answers (1)
Why should small business owners understand the concept of contract modification and settlement of disputed and undisputed debts?
Answers (1)
whether the liability of a sole proprietor is limited to the extent of his/her contribution in business ...
Answers (1)
The management of Onyx Corp. is unable to make accurate forecasts on capital investment. Which factor is preventing it from making such forecasts?
Answers (2)
Given the following information for the year ended December 31, what is the ratio of cash to monthly cash expenses? Negative cash flow from operations $ (540) Cash and cash equivalents as of year-end. a. 10.0 b. 12.0 c. 14.4 d.
Answers (1)
New Questions in Business
Austin Fisher contributed land, inventory, and $32,000 cash to a partnership. The land had a book value of $59,000 and a market value of $103,000. The inventory had a book value of $70,900 and a market value of $65,900.
Answers (1)
Keisha is in charge of a focus group that is watching a screening of a new movie. She notices that people are cringing at certain sections of the movie and not laughing at others that were supposed to be funny. She takes this information to her boss.
Answers (2)
Morgan, Inc. uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $20,600 was made on credit, 3/10, n/30. The journal entry to record this purchase is:a.
Answers (1)
The McDonald's fast-food restaurant on campus sells an average of 4,000 quarter-pound hamburgers each week. Hamburger patties are resupplied twice a week, and on average the store has 350 pounds of hamburger in stock.
Answers (1)
Suppose you will buy 1000 shares of IBM, you give your broker a limit buy order with 50$/share and a stop to buy order 60$/share.
Answers (1)
Home » Business » 1. What term is used to name a type of loan in which the loan amount and interest are due in one payment at maturity?
Sign Up Forgot Password?