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

You just borrowed $3,000 from your bank and agreed to repay the interest on ao annual basis and the principal st the end of three years. What pype of loan did you obtain?
Mubiple Choice
Interestionly
Amontied
Perpetual
Pure discount
You just borrowed $ 3 , 0 0 0 from your bank and

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

Southern First Bank is considering a leveraged lease agreement involving MRI equipment with Prisma Hospital. The bank (40 percent tax bracket) will be the lessor; Prisma Hospital, the lessee (0...

Q:

Microsoft Word - 10002-Assignment 1 (Sem 1, 2017).docx You have just arranged for an eight-year bank loan for $200,000 at an interest rate of 10% p.a. with interest compounded semi-annually. The loan...

Q:

please show me the calculations 1. You have just arranged for an eight-year bank loan for $200,000 at an interest rate of 10% p.a. with interest compounded semi-annually. The loan will be repaid in...

Q:

please show calculations/workings 4. The stated (nominal) interest rate that a bank charges on its home loans is 12.0% and the effective annual interest rate has been computed as 12.55%. Based on...

Q:

please show me calculation/workings try to solve as many as possible please 5. Your friend is considering investing $5,000 at the end of every quarter in a bank account paying 8% per annum. The first...

Q:

please show me calculation/workings try to solve as many as possible please 5. Your friend is considering investing $5,000 at the end of every quarter in a bank account paying 8% per annum. The first...

Q:

Southern First Bank is considering a leveraged lease agreement involving MRI equipment with Prisma Hospital. The bank ( 40 percent tax bracket) will be the lessor: Prisma Hospital, the lessee (0...

Q:

Southern First Bank is considering a leveraged lease agreement involving MRI equipment with Prisma Hospital. The bank (40 percent tax bracket) will be the lessor; Prisma Hospital, the lessee (0...

Q:

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

Q:

. o o o o o You just borrowed $10,000 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...

Q:

(a) In Sample Problem 10-8, when the rotor exploded, how much angular momentum, calculated about the rotation axis was released to the surroundings? (b) If we assume that most of the pieces of the...

Q:

Is human blood ever any color other than red?

Q:

When buying treasuries using a noncompetitive bid, the investor agrees to accept the discount rate determined at auction. Thue Palse

Q:

Describe how total variable costs and unit variable costs behave with changes in the level of activity. If fixed costs increase, what would be the impact on the contribution margin and income from...