24. Each month that Jennifer pays a payment on her personal loan, the amount that is applied to the principal balance increases. Jennifer has a(n) ________ loan.

a) interest-only

b)Balloon

c)Variable

d) Amortized

e) Discount

25. The bonds issued by Hardwood Floors & more have a 9.25 % coupon and pay interest annually. The face value is 1000$ and the current market price is 1 014.60 the bonds mature in 16 years. What is the yields to maturity on these bonds?

a) 8.98%

b)9.07%

c)9.29%

d) 9.32%

e) 8.93%