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Where are the interest rate, payment, and

other terms of a loan found?
a. Note
b. Lease
c. Satisfaction
d. Mortgage

1 Answer

2 votes

Final answer:

The terms of a loan, including interest rate and payment conditions, are detailed in the note.

Step-by-step explanation:

The interest rate, payment, and other terms of a loan are found in the note. A note is a legal document that serves as evidence of the debt and outlines the loan's terms and conditions, including the repayment schedule, interest rate, and consequences of non-payment. This contrasts with a lease, which pertains to property rental agreements; a satisfaction, which is an acknowledgment that a loan has been paid off; and a mortgage, which is typically a separate document that secures the loan with the property being purchased.

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