What is an installment​ loan? Explain the meaning and use of the loan payment formula. Question content area bottom Part

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What is an installment​ loan? Explain the meaning and useof the loan payment formula.
Question content area bottom
Part 1
Choose the correct answer below.
A.
An installment loan is a loan that is paid off with equalregular payments.
B.
An installment loan is the time you have to pay back a loan infull.
C.
An installment loan is an amount of money installedelectronically into a bank account.
D.
An installment loan is the amount of money owed at anyparticular time.