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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.