James borrowed $3,000,000 today at an annual interest rate of 8.5%. The loan agreement requires him to repay $3,255,000 in one lump sum payment one year from now. This type of loan is referred to as a(n):

chose 1 option...

(A) - pure discount loan.

(B) - amortised loan.

(C)- quoted rate loan.

(D)- interest-only loan.

(E) - compound interest loan.