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Jeff just financed a used car through his credit union. His loan requires payments of $ 2 7 5 a month for five years. Assuming

Jeff just financed a used car through his credit union. His loan requires payments of $275 a month for five years. Assuming that all payments are paid on time, his last payment will pay off the loan in full. What type of loan does Bill have?
Question 15 options:
1)
Interest-only
2)
Pure discount
3)
Lump sum
4)
Complex
5)
Amortized

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