Balloon Payment
Click on the correct answer:
A. A final loan payment that is
usually much larger than the preceeding regular payments and that
discharges the principal balance of the loan.
B. A payment that does not specify to
which debt it should be applied when it is made to a single creditor who
holds several of the payor's debt.
C. A payment of a large amount all at
once, as opposed to smaller payments over time.