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At maturity date, a borrower repays in full the principal of a $2,000 loan and pays $150 interest. Which of the following statements is NOT
At maturity date, a borrower repays in full the principal of a $2,000 loan and pays $150 interest.
Which of the following statements is NOT correct?
A.Their assets decrease by $2,150. B.Their bank deposits decrease by $2,150. C.Their debt decreases by $2,150. D.Their equity decreases by $150. E.Their balance sheet shrinksStep by Step Solution
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Mathematical And Statistical Methods For Actuarial Sciences And Finance
Authors: Marco Corazza , Claudio Pizzi
1st Edition
3319024981, 331902499X, 9783319024998
