Relacionar Columnas Long term debt repaymentVersión en línea Answer the questions using the information on pp 258-264 in the text book por Jeni Garcia 1 Refinancing 2 Prepayment penalty 3 Mortgage 4 Preapproved loan 5 Rent to own agreement 6 Debt repayment plan 7 Trade-in 8 Balloon payment 9 Down payment A loan for which a maximum amount is established and approved in advance A large lump sum payment that must be paid at a set time. A strategy for paying off debt in a way that reduces the total interest paid A loan used to purchase real estate A cash deposit towards the purchase price that is paid up front. A contract on which a portion of the renter's monthly payment is applied towards the purchase price of the rented item. A fee charged if you repay a loan before the agreed upon time. Something of value applied towards the down payment of a new purchase Paying off an existing loan with a new loan that usually has better terms