Answered: If an installment loan is paid in full…

If an installment loan is paid in full before the maturity date, the full amount of interest on the loan must still be paid. O False O True

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter7: Credit Cards And Consumer Loans

Section7.5: Calculating Interest On Consumer Loans

Problem 3CC

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Question

If an installment loan is paid in full before the maturity date, the full amount of interest on the loan must still be paid.
False
O True

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