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Letitia borrowed $6,000 from her bank 2 years ago. The loan term is 4 years. Eac

ID: 2706098 • Letter: L

Question

   
  1.       Letitia borrowed $6,000 from her bank 2 years ago. The loan term is 4 years. Each year, she must repay the bank $1,500 plus the annual interest. Which type of loan does she have? Answer                                         
               Amortized                             
               Blended discount                             
               Interest-only                             
               Pure discount                             
               Complex                                        
      
  1.       Letitia borrowed $6,000 from her bank 2 years ago. The loan term is 4 years. Each year, she must repay the bank $1,500 plus the annual interest. Which type of loan does she have? Answer                                         
               Amortized                             
               Blended discount                             
               Interest-only                             
               Pure discount                             
               Complex                                        
         Letitia borrowed $6,000 from her bank 2 years ago. The loan term is 4 years. Each year, she must repay the bank $1,500 plus the annual interest. Which type of loan does she have? Answer                                         
           Amortized                             
           Blended discount                             
           Interest-only                             
           Pure discount                             
           Complex                                         Letitia borrowed $6,000 from her bank 2 years ago. The loan term is 4 years. Each year, she must repay the bank $1,500 plus the annual interest. Which type of loan does she have? Letitia borrowed $6,000 from her bank 2 years ago. The loan term is 4 years. Each year, she must repay the bank $1,500 plus the annual interest. Which type of loan does she have? Amortized Blended discount Interest-only Pure discount Complex                                                                           
           Amortized                             
           Blended discount                             
           Interest-only                             
           Pure discount                             
           Complex

Explanation / Answer

Pure discount

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