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Question 1 7 If you borrow $ 1 0 , 0 0 0 today and interest of 2 % is added to the loan balance

Question

17

If you borrow $

10, 000

today and interest of

2 %

is added to the loan balance each year until repayment is made on the full amount, what kind of loan is it

?

A simple loan

A fixed payment loan

A coupon bond

A discount bond

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