Question: You just Borrowed $ 3 0 0 0 from your bank and agreed to repay the interest on an annual basis. The principal will be

You just Borrowed $

3000

from your bank and agreed to repay the interest on an annual basis. The principal will be repaid all at once at the end of three years. What type of loan did you obtain? A

.

Amortized B

.

Pure Discount C

.

Lump sum D

.

Perpetual E

.

Interest only

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