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 an interest-only loan.
E) require the accrued interest be paid in full with each monthly payment.
Correct Answer:
Verified
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