If you take out a loan, which two things do your loan payments go toward? A. Income and cash flow B. Assets and collateral C. Line of credit and the bank D. Principal and interest
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OPTION B IS THE ANSWER
ASSET AND COLLATERAL
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When you take out a loan, the two things your loan payments goes towards is Principal and Interest (D). Principal is the amount that you borrowed via the loan. Interest is the fee placed on the amount that was borrowed. Together the monthly loan payments satisfies the repayment of both over a predetermined and agreed upon length of time.
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