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Answer to Question #317830 in Economics for hay
Question #317830
Name two types of amortized loans.
Expert's answer
Types of Amortizing Loans
- Auto loans. An auto loan is a loan taken with the goal of purchasing a motor vehicle.
- Home loans. Home loans are fixed-rate mortgages that borrowers take to buy homes; they offer a longer maturity period than auto loans.
- Personal loans.
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