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      Question

      Which of the following terms refers to the process of

      merging multiple loans into a single loan with a lower interest rate?
      A Debt Refinancing Correct Answer Incorrect Answer
      B Debt Consolidation Correct Answer Incorrect Answer
      C Loan Amortization Correct Answer Incorrect Answer
      D Debt Restructuring Correct Answer Incorrect Answer
      E Balance Transfer Correct Answer Incorrect Answer

      Solution

      Debt consolidation refers to the process of merging multiple loans into a single loan, often with a lower interest rate, making it easier for borrowers to manage debt.

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