Which statement about installment loans is not true?

A) installment loans usually require a down payment and the remaining amount is financed.

B) To calculate an installment loan subtract the down payment from the cash price to find the amount financed

C) Installment loans are loans on which the interest is paid first and the borrower recieves the proceeds.

D) The borrower pays back the principal and interest in regular, equal installments.

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13 April, 14:08

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Carina Larsen · Answer 1

C. Installment loans are loans on which the interest is paid first and the borrower receives the proceeds.