Question
Which one of the following terms is used to describe a loan wherein each payment is equal in amount and includes both interest and principal?
Which one of the following terms is used to describe a loan wherein each payment is equal in amount and includes both interest and principal?
A. amortized loan
B. modified loan
C. balloon loan
D. pure discount loan
E. interest-only loan
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Introduction To Finance Financial Management And Investment Management
Authors: Pamela P. Drake, Frank J. Fabozzi, Francesco A. Fabozzi
1st Edition
9811239657, 978-9811239656
