Question

C. Period or Term of payment.​

Answer 1

Answer:

The period over which the borrower is obliged to make payments. On most mortgages, the payment period is a month but on some it is biweekly. It is not necessarily the same as the Interest Accrual Period.

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Answer 2

Answer:

Payment terms are imposed to ensure that payments are received by suppliers within a reasonable period of time. Discount terms may be ...