Which one of the following terms is used to describe a loan whereby the borrower pays only a lump sum at maturity; no other payments are made by the borrower: O modified loan interest-only loan O fully amortized loan O pure discount loan Phil just won the grand prize in a national "howl at the moon" contest. His prize is to receive an annuity paying $3,000 per quarter for 9 years. If he can earn 4.5% annually on his money, what is his prize worth today? O $139,520 O $172,253 $88,404 $74,555 $57,256