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Frank purchased a home for $200,000. He took out a loan which is amortized over 30 years, due and payable after 7 years. What type

Frank purchased a home for $200,000. He took out a loan which is amortized over 30 years, due and payable after 7 years. What type of loan did Frank receive?

Select one: a. A partially amortized loan

b. A pay option ARM

c. A loan with an acceleration clause

d. An FHA loan

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