Define interest rate, collateral, documentation requirement and mode o – InterviewSolution

1.	Define interest rate, collateral, documentation requirement and mode of repayment
Answer» oan agreement specifies aninterest rate which the borrower must pay to the lender ALONG with therepayment of the PRINCIPAL, this is called the terms of credit. In addition to the interest , lenders may DEMAND collateral (security) against loans.Terms of Credit - MONEY and Credit Hope I'll HELP uu

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