1. Bridge loans provide short-tern funding until longer-term or additional financing is found. True or False
2. Amortization refers to the process in which a large proportion of the early payments of an installment loan goes to cover interest, and the later payments have a larger proportion going towards the payment of principal. True or False
3. Unsecured loans are generally safer than secured loans. Therefore, secured loans typically charge a higher interest rate than unsecured loans. True or False
4. Usually there is no set limit on open credit. True or False
5. The average daily balance method calculates interest payments based on the ending balance of the previous period. True or False