If You Borrow $100,000 at an Annual Rate of 8

question 76

Multiple Choice

If you borrow $100,000 at an annual rate of 8.00% for a 10-year period and repay the interest of $8,000 at the end of each year prior to maturity and the final payment of $108,000 at the end of 10 years,then you have just repaid what type of loan?

• A)Amortized loan
• B)Interest-only loan
• C)Discount loan
• D)Compound loan

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Definitions:

PASS Method

A technique used for operating a fire extinguisher, standing for Pull (the pin), Aim (at the base of the fire), Squeeze (the handle), and Sweep (the nozzle side to side).

Fire Extinguisher

A device used to suppress small fires by discharging a substance that cools the burning material, deprives the flame of oxygen, or interferes with the chemical reactions occurring in the flame.

Oil Immersion

A technique used in microscopy to increase the resolving power by immersing both the objective lens and the specimen in a transparent oil of high refractive index.

Clinical Laboratory Improvement Amendments

Regulations enacted in 1988 to improve the quality of laboratory testing in the United States.