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If you’re offered and no-interest loan, the amount of the loan should not exceed

A) $2,000
B) $25,000
C) $60,000
D) $100,000

1 Answer

2 votes

The amount of the loan should not exceed $2000.

Answer: Option A.

Step-by-step explanation:

A no-premium credit implies you are just taking care of the head — or the cash you acquired from the bank — without premium. That implies on the off chance that you make late installments or don't take care of your parity inside a certain time allotment, you might be charged intrigue retroactively on the whole parity.

A zero-interest credit is one where just the chief equalization must be reimbursed, given that the borrower respects the unbending cutoff time by which the whole parity must be fulfilled.

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