1. Briefly describe the basic features of an installment loan. 2. What is a home equity loan, and what are its major advantages and disadvantages? 3. Explain why a borrower is often required to...

1. Briefly describe the basic features of an installment loan.

2. What is a home equity loan, and what are its major advantages and disadvantages?

3. Explain why a borrower is often required to purchase credit life and disability insurance as a condition of receiving an installment loan.

4. When does it make more sense to pay cash for a big-ticket item than to borrow the money to finance the purchase?