BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Origin or Loan Date
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Repayment Date or Maturity Date
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Time
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Annually
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Detailed explanation-1: -Answer. Origin/Loan date-date on which money is received by the borrower. Repayment date/Maturity date-date on which the money borrowed or loan is to be completely repaid.
Detailed explanation-2: -The sum of money you deposit into a savings account or borrow from a bank is called the principal. The fee to borrow money is called interest. When you borrow money you pay back the principal and interest to your lender.
Detailed explanation-3: -A Loan Date for a Direct Loan is the date of the first disbursement, but for Federal Family Education Loan Program loans, the date usually refers to the date the loan was guaranteed or backed by a guaranty agency.
Detailed explanation-4: -A Repayment date is the date overpayment is fully paid back.