A loan has an APR of 8.5 percent and an EAR of 8.5 percent.Given this, the loan must:
A) have a one-year term.
B) have a zero percent interest rate.
C) charge interest annually.
D) must be partially amortized with each loan payment.
E) require the accrued interest be paid in full with each monthly payment.
Correct Answer:
Verified
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