Evelyn has taken out a college loan. She needs to pay $500 every month for two years to repay the loan. What kind of loan does she have?

One later education question and answer requested students to claim what they agree to is the most important concern for a student to do in order for you to get success. Of many replies, the one which that stood out was practice. Successful persons usually aren’t born successful; they become successful through hard work and determination. This is how you can accomplish your goals. in the following paragraphs some question and answer examples that you could potentially utilize to further enhance your knowledge and gain insight that will help you to continue your school studies.

Question:

Evelyn has taken out a college loan. She needs to pay $500 every month for two years to repay the loan. What kind of loan does she have?

Answer:

The kind of loan Evelyn has is a CONSTANT RATE LOAN.

A constant rate loan is a loan wherein the borrower pays every month a fixed amount that is part principal and part interest. This loan ensures that the principal and interest are all paid at the end of the loan term.

From the answer and question examples above, hopefully, they might possibly assist the student handle the question they had been looking for and keep in mind of each thing declared in the answer above. You will be able to then have a discussion with your classmate and continue the school learning by studying the subject with one another.

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