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Basic categories of personal loans

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Reference no: EM133030896

Problem: There are 3 basic categories of personal loans (fixed payment loans, revolving loans, and demand loans). Choose any one of the 3 and answer the following questions

  1. Provide a brief definition/explanation of the category of loan you have selected.
  2. Explain how this type of loan is structured (payments, interest rate, and amortization).
  3. Give one example of a type of loan in this category and explain why the customer would want this type of loan.

Reference no: EM133030896

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