Illinois Real Estate Exam

Category - Real Estate

In simple terms, a sum of borrowed money (principal) usually repaid with interest is called a:
  1. mortgage
  2. loan
  3. conventional loan
  4. alternative mortgage
Explanation
Answer: A sum of borrowed money generally repaid with interest is simply a loan.
Was this helpful? Upvote!
Login to contribute your own answer or details

Top questions

Related questions

Most popular on PracticeQuiz