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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)
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%
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