Question
A loan has an APR of 8.5 percent and an EAR of 8.5 percent. Given this, the loan must: A. have a one-year term. B.
A loan has an APR of 8.5 percent and an EAR of 8.5 percent. Given this, the loan must:
A. | have a one-year term. |
B. | have a zero percent interest rate. |
C. | charge interest annually. |
D. | must be an interest-only loan. |
E. | require the accrued interest be paid in full with each monthly payment. |
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Financial Management Concepts and Applications
Authors: Stephen Foerster
1st edition
013293664X, 978-0132936644
