Answer :
A loan, in finance, is defined as the lending of money by an individual, group, or a bank. The borrower incurs a debt and pays off the debt along with interest.
The correct answer is:
Sudden debt pay off
Debt is the issuance or the allotment of the bonds through which money can be raised. A loan is similar to debt, in which a borrower raises money from the lender.
The lender sets the repayment terms and interest rate. When someone pays off debt quickly, it is known as a sudden payoff. The repayment of the loan early can be advantageous in negotiating the terms and payable interest.
The easy ways in which debt can be paid off early is by creating a budget, paying more than the minimum balance, and taking advantage of balance transfers.
Therefore, the correct option is sudden debt payoff.
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