A straight note, having the same interest rate and term, would involve:
a. less interest than an installment note
b. more interest than an installment note
c. the same interest as an installment note
d. None of the above are correct
Answer: b. more interest than an installment note
You might also like to view...
Which of the following statements is (are) true regarding how the Homeowners 3 policy handles the peril of collapse?
I. Collapse is specifically excluded, and there are no exceptions to the exclusion. II. Collapse that is caused by a Coverage C peril is covered. A) I only B) II only C) both I and II D) neither I nor II
The Truth in Savings Act of 1993
A) helps investors compare interest rates on investment options. B) requires that all institutions publish only annually compounded APRs. C) ensures that all investments are federally insured. D) All of the above are correct.