Did You Hear About Worksheet Answers Page 211 (2024)

FAQs

What do you call it when someone pays back a loan quickly 164? ›

The act of paying back a loan faster than anticipated is typically referred to as prepayment.

Final answer:

Ignorance refers to a lack of knowledge while apathy refers to a lack of interest.

The mashonisa is generally known to the community as he operates in the vicinity. Regardless of his unsavoury means of debt collection, most people feel they are borrowing from a person they know and hope he might be lenient to them. He's available 24/7.

So you'll be asked to pay the bank the money you borrowed, plus an additional amount of money for the service itself. That's called “interest.”

lack of knowledge, information, or education; the state of being ignorant.

'Ignorance' is meaning not having knowledge or lacking in understanding. 'Apathy' is a condition that means not having interest or emotion about something. Both are wrong, but apathy is more wrong.

Ignorance can appear in three different types: factual ignorance (absence of knowledge of some fact), object ignorance (unacquaintance with some object), and technical ignorance (absence of knowledge of how to do something).

Repayment is the act of paying back a lender the money you've borrowed. Typically, it consists of periodic payments toward the principal—the original amount borrowed—and interest, a fee for the “privilege” of being lent the money.

Immediate repayment: Principal and interest payments begin as soon as your loan is disbursed. Interest-only payments: You make interest-only payments while in school, then begin principal and interest payments once you graduate or drop below half-time enrollment.

Co-signer. This is a person who signs the promissory note with the borrower and promises to repay the loan if the borrower does not. Both the co-signer and the borrower are responsible to repay the loan. Some loans require a co-signer and some don't.

What is the ability to repay a loan called? ›

The Ability-to-Repay/Qualified Mortgage Rule (ATR/QM Rule) requires a creditor to make a reasonable, good faith determination of a consumer's ability to repay a residential mortgage loan according to its terms.