Question

Documentation requirement, mode of payment and interest rates together is called as
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Answer 1

Answer:

this is called loan

Explanation:

hope it helps you guys

Answer 2

‘Documentation requirement’, mode of ‘payment and interest rates’ together is called as a loan payment.

Explanation:

• An individual can take a loan from the bank for buying a car, house, flat or any other thing that requires a big investment.  

• The loan payment consists of documentation, mode of payment and the prevailing interest rates. The loan payment can be done by people in monthly or quarterly installments.  

• The equal monthly installments consist of the ‘principal amount and interest’.

• The legal documents refer to identity proofs, residential proof, the installment statements and other forms of important papers.