Question

With a(n) _______, the full amount of the loan is received when the contract is signed, but only the interest is paid over the life of the loan. The principal is then paid on the date that the loan is due.

Answer 1

Installment Loan

Step-by-step explanation:

These loans are paid back with equal monthly payments covering both principal and interest. Installment loans may be written to meet all types of business needs. You receive the full amount when the contract is signed, and interest is calculated from that date to the final day of the loan. If you repay an installment loan before its final date, there will be no penalty and an appropriate adjustment of interest.

Answer 2

installment loan

Step-by-step explanation:

sorry if im wrong