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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Individuals who are working in a job that does not fully utilize their skills and abilities or who are working fewer hours than they prefer.

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