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What happens if you pay off an installment loan early? Question options: You'll incur a prepayment fee. The full interest will be charged regardless of when you pay off the…

What happens if you pay off an installment loan early? Question options: You'll incur a prepayment fee. The full interest will be charged regardless of when you pay off the…
asked 196k views
1 vote
What happens if you pay off an installment loan early?

Question options:

You'll incur a prepayment fee.

The full interest will be charged regardless of when you pay off the loan.

The interest will be adjusted accordingly.

The interest will be doubled.

asked
User Izzy
by
8.5k points

2 Answers

3 votes

Answer:

the answer is C

Step-by-step explanation:

i took the test

answered
User Shubham R
by
8.1k points
6 votes

Answer:

the prepayment fee is wrong

Step-by-step explanation:

it is probably B

answered
User Akela
by
9.2k points
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