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All of the following are characteristics of the term loan, except:

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All of the following are characteristics of the term loan, except:

 Options:

A. credit is extended for one to seven years
B. the loan is repaid in one lump sum at maturity
C. only superior credit applicants qualify
D. interest rates may commonly change with market conditions

 

The Correct Answer Is:

  • B. the loan is repaid in one lump sum at maturity

 

Conclusion

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