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Lending has been practiced for many thousands of years and has manifested a variety of forms throughout that time. Primitive loan contracts from Mesopotamia as early as the tenth century evidence the development of a rudimentary system of credit which included the concept of interest, and the concept of paying the interest in installments at regular intervals. The payment of the interest on loans in installments can be discerned as early as the sixth century within such ancient contracts a…23/08/2021 · In a Nutshell. An installment loan is a type of loan where you borrow a set amount of money all at one time. You then repay the loan over a fixed number of payments, called installments. Many installment loans also have fixed payment amounts, meaning the amount doesn’t change over the life of the loan — whereas if you have a variable interest rate An "installment loan" is a broad, general term that refers to the overwhelming majority o

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