money, coin, investment

Taking out a loan is not something to be taken lightly, as it entails the reallocation of an asset from one party (the lender) to another (the borrower). It involves specifying certain details like principal amount and interest rate that must eventually be repaid before the allotted time. For many people, loans can offer much-needed assistance in difficult times – but they should always enter this agreement with their eyes wide open.

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