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Single Answer MCQ
Q-00045444

What should be included in a loan agreement?

1

The history of the borrower's family

2

Interest rates and repayment terms

3

A guarantee of profit

4

The borrower's educational background

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Sandeep Chaturvedi

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Answer and Solution

Answer

B. Interest rates and repayment terms

Solution:

A loan agreement must specify the interest rates and repayment terms, as they dictate the conditions of the loan.

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