How Do You Spell ROL?

Pronunciation: [ɹˈɒl] (IPA)

The correct spelling of the word "ROL" is spelled /rəʊl/. The IPA phonetic transcription shows that the first sound is a schwa, the second sound is a long o, and the final sound is the letter l. The schwa sound is pronounced with the mouth slightly open and the tongue relaxed in the middle of the mouth. The long o sound is pronounced with the mouth open wide and the tongue raised towards the back of the mouth. The letter l sound is pronounced by touching the tongue to the roof of the mouth behind the upper front teeth.

Meaning and Definition
Common Misspellings
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ROL Meaning and Definition

  1. ROL is an acronym that stands for "Roll Over Loan." It refers to a type of loan that is extended or renewed when the borrower is unable to repay the existing loan principal and is thus allowed to carry the outstanding balance into a new loan period. This is often done with short-term loans, such as payday loans or cash advances.

    When a borrower is unable to repay the loan by the agreed-upon due date, the loan can be rolled over by the lender. In this case, the lender offers the borrower the option to extend the loan for an additional period, usually with an added fee or interest charge. The outstanding balance from the original loan is then transferred to the new loan.

    ROL is commonly used in situations where the borrower is facing financial difficulties and is unable to pay off the entire loan amount. By rolling over the loan, the borrower gains more time to repay the debt, but it can also result in additional fees and interest charges, ultimately increasing the total amount owed.

    It is important for borrowers to carefully consider the terms and conditions of rolling over a loan. While it can provide temporary relief, it can lead to a cycle of debt if extended multiple times. ROL should be used as a last resort and borrowers should explore other alternatives to manage their financial obligations.

Common Misspellings for ROL

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Correct spelling for ROL
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