Final answer:
When considering a loan of $250, you would need to know the interest rate, repayment period, repayment terms, collateral requirements, and any additional fees.
Step-by-step explanation:
When considering a loan of $250, there are several details you would need to know:
- Interest rate: You would need to know the interest rate that will be applied to the loan amount, as this will determine how much additional money you will need to repay.
- Repayment period: You would need to know the duration of time you have to repay the loan, whether it's a few weeks, months, or years.
- Repayment terms: You would also want to understand the repayment terms, such as whether the loan requires fixed monthly payments or flexible payments.
- Collateral: Some loans may require collateral, such as a valuable asset, in case you are unable to repay the loan. You would need to know if any collateral is required.
- Additional fees: Lastly, you should inquire about any additional fees associated with the loan, such as origination fees or late payment fees.