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

question 93

Multiple Choice

If you borrow $100,000 at an annual rate of 8.00% for a 10-year period and repay the total amount of principal and interest due of $215,892.50 at the end of 10 years,what type of loan did you have?

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

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Definitions:

Blur

implies a lack of clarity or distinctness, often resulting in confusion or ambiguity in various contexts, including visual perception or understanding of information.

Technological Changes

Entail the adoption of new technologies and the adaptation processes organizations undergo to implement these technologies, impacting work processes and employee roles.

Rapidly Accelerating Rate

A pace of change that is increasing swiftly and often unexpectedly, frequently used in the context of technology, growth, or environmental changes.

Verbal Immediacy

The use of language to express closeness and reduce the psychological distance between individuals.