Question: Question 14 (1 point) Keith borrowed $2,500 today. The loan agreement requires him to repay $2,685 in one lump sum payment one year from now.

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Question 14 (1 point) Keith borrowed $2,500 today. The loan agreement requires him to repay $2,685 in one lump sum payment one year from now. This type of loan is referred to as a(n): 1) compound interest loan. O2) quoted rate loan. 3) interest-only loan. O4) amortized loan. 5) pure discount loan

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