If you do not pay back any of the loan amount for a portion of the loan period but are not defaulting in the loan, you have a(n):
Understand the Problem
The question is asking about the type of loan you have if you do not repay any of the loan amount for a period, but are not in default. It seems to be a multiple-choice question regarding loan types.
Answer
Deferred payment loan
The final answer is a deferred payment loan.
Answer for screen readers
The final answer is a deferred payment loan.
More Information
In a deferred payment loan, you don't pay back any of the principal during a specific period, but interest may still accrue. This type of arrangement is common in student loans and some mortgages.
Tips
Confusing deferred payment loans with interest-only loans can occur. In a deferred payment loan, both principal and interest are postponed, whereas, in an interest-only loan, only the principal is deferred.
Sources
- Brainly - Deferred Payment Loan - brainly.com
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