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

question 62

Multiple Choice

If you borrow $100,000 at an annual rate of 8.00% for a 10-year period and repay with 10 equal annual end-of-the-year payments of $14,902.95,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:

Poverty of Thought

A reduction in the quantity or content of thought, often seen in various mental health conditions.

Social Isolation

The state of being detached or distanced from others, resulting in lack of social interactions or connections.

Hallucinations

Perceptions of objects, sounds, or sensations that appear real but are created by the mind, commonly associated with mental health conditions.

Apathy

A lack of interest, enthusiasm, or concern about emotional, social, or physical life.