Question: You just borrowed $ 3 , 0 0 0 from your bank and agreed to repay the interest on an annual basis and the principal

You just borrowed $3,000 from your bank and agreed to repay the interest on an annual basis and the principal at the end of three years. What type of loan did you obtain?
You just borrowed $3,000 from your bank and agreed to repay the interest on an annual basis and the principal at the end of three years. What type of loan did you obtain?
Pure discount
Perpetual
Interest-only
Lump sum
Amortized

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