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What is a down payment?

a. The first payment a borrower makes on the principal of a loan

b. A cash payment made by the borrower of a percentage of the total cost of the asset

c. An interest rate charged on a credit card

d. A fee paid to process a loan application

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Answers (1)
  1. 14 May, 22:42
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    B A cash payment used as a percentage of the loan
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