a. The first payment a borrower makes on the principal of a loan
b. A cash payment made by the borrower of a percentage of the total cost of the asset
c. An interest rate charged on a credit card
d. A fee paid to process a loan application
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Home » Social Studies » What is a down payment? a. The first payment a borrower makes on the principal of a loan b. A cash payment made by the borrower of a percentage of the total cost of the asset c. An interest rate charged on a credit card d.