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30 June, 13:56

Lesson 7-1 single payment loans

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  1. 30 June, 15:10
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    The whole principal plus any debt shall be paid by a single payment lender on the same day the lender expires. Instead of multiple instalments, individual interest loans concurrently calculate the full rate.

    When should a single payment loan be considered?

    If your loan amount of money is high, if you choose a single payment, you will pay a lower interest.

    You might, for example, save $12,000 and try to spend $10,000 on shopping like a holiday or a bell. You don't want to deplete your savings because you have a single credit for payment. This can save more money in the future you will pay $10,000 for the loan without dropping the bank account.
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