1. In a(n) _______________loan, monthly payments are required. 2. Interest on a loan may be paid at_____________ or____________-- . 3. When a loan is discounted, the______________ interest rate will...

1. In a(n) _______________loan, monthly payments are required.

2. Interest on a loan may be paid at_____________ or____________-- .

3. When a loan is discounted, the______________ interest rate will be higher.

4. A(n)_______________________ is a draft drawn by an individual and accepted by the bank requiring future payment to a third party.