1. What is a lien, and when is it part of a consumer loan? 2. When might you request a loan rollover? 3. Describe the two methods used to calculate the finance charges on a singlepayment loan. As a...

1. What is a lien, and when is it part of a consumer loan?

2. When might you request a loan rollover?

3. Describe the two methods used to calculate the finance charges on a singlepayment loan. As a borrower, which method would you prefer? Explain.

4. Define simple interest as it relates to an installment loan. Are you better off with add-on interest? Explain.