Money you pay up front to reduce the amount you will owe is called a

A. down payment
B. late payment
C. fixed loan
D. short-term loan

Question

03-08-2024
Business

Answered

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Money you pay up front to reduce the amount you will owe is called a

A. down payment
B. late payment
C. fixed loan
D. short-term loan

Sagot :

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GinnyAnsweridn GinnyAnsweridn · Answer 1 · 2024-08-03T18:10:05-04:00

GinnyAnsweridn GinnyAnsweridn

03-08-2024

Final answer:

A down payment is an initial payment that reduces the amount owed, typically seen in real estate transactions.

Explanation:

Money you pay up front to reduce the amount you will owe is called a down payment.For example, when buying a home, putting down 20% of the purchase price is a common down payment requirement.

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