the minimum monthly payment on a loan refers to: a. the minimum payment that a borrower must make each…
the minimum monthly payment on a loan refers to: a. the minimum payment that a borrower must make each month. b. the minimum interest rate that a lender charges each month. c. the minimum credit score that a person must have to get a loan. d. the minimum amount of purchases that a person can charge each month.
Answer
Brief Explanations:
The minimum monthly payment on a loan is the least - amount a borrower is obligated to pay each month to keep the loan in good standing. It is not related to interest rate, credit score, or purchase amount.
Answer:
A. the minimum payment that a borrower must make each month