When applying for a loan it is important to understand everything you are agreeing to.
What is the meaning of loan term?

Question

When applying for a loan it is important to understand everything you are agreeing to. 
 What is the meaning of loan term?

Answer

·           the amount of money borrowed

Answer

·      the length of time it takes to pay off the loan

Answer

·           the monthly payment amount

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·           the interest rate charged on the loan

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