Question

question 1 of 10
what is the maximum number of payments that can be made toward paying off an installment loan?
a. unlimited
b. one
c. two
d. two or more

Explanation:

An installment loan is repaid through a series of regular payments (installments). By definition, it requires two or more payments. Options A (unlimited) is incorrect as loans have a set term. Option B (one) is for a single - payment loan (not installment). Option C (two) is too restrictive as installment loans can have more than two payments.

Answer:

D. Two or more