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Which one of the following is TRUE about prepayment penalties? Multiple Choice They are not included in the APR calculation. They are equivalent to charging
Which one of the following is TRUE about prepayment penalties?
Multiple Choice
They are not included in the APR calculation.
They are equivalent to charging additional points for the loan.
They lower the effective cost if the loan is repaid before maturity.
They are never used with residential mortgages.
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Fatal Numbers Why Count On Chance
Authors: Hans Magnus Enzensberger ,Karen Leeder
1st Edition
1935830015, 978-1935830016
