Question: ravis borrowed $ 1 0 , 0 0 0 four years ago at an annual interest rate of 7 percent. The loan term is six

ravis borrowed $10,000 four years ago at an annual interest rate of 7 percent. The loan term is six years. Since he borrowed the money, Travis has been making annual payments of $700 to the bank. Which type of loan does he have?
Multiple Choice
Amortized
Interest-only
Compound
Complex
Pure discount

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