Question: Problem 3 ( 1 0 points ) . You borrowed $ 1 0 0 0 at 8 % interest and agreed to payoff the loan

Problem 3(10 points). You borrowed $1000 at 8% interest and agreed to payoff the loan in two payments. Specifically, you agree to payoff half of the principle plus interest after one year, the half the principle plus interest the following year. From your perspective, draw a cash flow diagram that represents the three transactions. What type of loan is this?
Problem 3(10 points). You borrowed $1000 at 8% interest and agreed

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