VUIK - 3 attempts Rochelle Willoughby: Attempt 2 Previous Page Next Page Page 3 of 3 Question 11 (0.2 points) Keith 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): ( 1) interest-only loan. O2) pure discount loan. O 3) quoted rate loan. 04) amortized loan. 5) compound interest loan. View hint for Question 11