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LOANS: HOW MUCH DO YOU KNOW?

Over the course of a loan, the monthly payment stays the same while the interest payment increases and the principle payment decreases.
True
False
The monthly payment is split into:
A. Interest & Principle Payments
B. Interest & Amortization Payments
C. Interest & Appreciation Payments
D. Interest & Cash Payments
Amortization and loan Life/Term are NOT the same.
True
False
If I default but my loan is secured by my business, the bank can't take my home.
True
False
If I pay my loan off early, the banks will not charge me a penalty.
True
False
Interest rates for CNC Machines are typically __________ rates for real estate.
A. The same as
B. Higher than
C. Lower than
D. None of the above
CNC Machines appreciate in value over time.
True
False
The people who need to borrow money the least get the worst terms and interest rates.
True
False
When deciding on a loan, 0% APR for 12 months is a good offer.
True
False
If I have a fixed interest rate, I won't have a balloon loan.
True
False
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