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Scott borrowed $2,500 today. The loan agreement requires him to repay $2,685 in one lump sum payment one year from now. This type of loan

Scott borrowed $2,500 today. The loan agreement requires him to repay $2,685 in one lump sum payment one year from now. This type of loan is referred to as a(n): a. interest-only loan. b. pure discount loan. c. quoted rate loan. d. compound interest loan. e. amortized loan

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