Which of the following is most likely true about a term loan?

A term loan typically involves a structured repayment plan where all principal and interest payments are consolidated into a single payment due at maturity. This means that the borrower pays back the entire loan amount plus any accumulated interest at one time, rather than making periodic payments over the life of the loan. This is characteristic of certain types of loans that emphasize a larger payment at the end rather than regular installments, making option C the most accurate depiction of a term loan's payment structure.

In contrast, many loans involve periodic payments, which can include interest throughout the duration of the loan; thus, suggesting that interest payments occur during the term does not align with the structure of a term loan. A balloon payment might occur but it's not a defining characteristic of all term loans since it can apply to other types as well, leading to ambiguity if taken broadly. The idea of being secured by the borrower's income relates more to specific types of loans where personal income acts as the collateral, which is not inherent or necessary for all term loans.