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A loan that calls for periodic interest payments and a lump sum principal payment is referred to as a(n) ________ loan. A) amortized B) modified C) balloon D) pure discount E) interest-only

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Answer:

Interest only loan

Explanation:

The interest-only loan is a type of loan payment that calls for periodic interest payments and a lump sum principal payment.  In this type of loan payment, buyers or borrower pay the interest for some period and in some cases for all periods. In interest-only payment, the principal amount remains the same though out the loan period.

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