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You just borrowed $3,000 from your bank and agreed to repay the interest on an annual basis and principal at the end of three years.

You just borrowed $3,000 from your bank and agreed to repay the interest on an annual basis and principal at the end of three years. What type of loan did you obtain? A. Interest-only B. Amortized C. Perpetual D. Pure Discount E. Lump Sum

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