ECONOMICS
INFLATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gainers
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Losers
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Either A or B
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None of the above
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Detailed explanation-1: -A debt repayment plan is a structure you put in place to pay off your outstanding debt. The key to a successful debt repayment plan is assessing how much you owe, ways you can increase your monthly payments, and finding a strategy that works best for your budget.
Detailed explanation-2: -Amortization: Loan payments by equal periodic amounts calculated to pay off the debt at the end of a fixed period, including accrued interest on the outstanding balance.
Detailed explanation-3: -These loans taken by the buyers are supposed to be repaid within a given timeframe with the help of regular installments which include a part of principal amount as well as interest. This process of paying off the debt over a period of time through monthly installments is known as amortization.
Detailed explanation-4: -Standard Repayment. Under this plan you will pay a fixed monthly amount for a loan term of up to 10 years. Extended Repayment. Graduated Repayment. Income-Contingent Repayment. Income-Sensitive Repayment. Income-Based Repayment.