6. (TCO 3) Match the following terms with the examples as appropriate: (Points :

Question

6. (TCO 3) Match the following terms with the examples as appropriate: (Points : 4) Potential Matches: 1 : You obtained a business loan for four months. The loan will allow you to paid $300 in interest for three months and a final payment of interest and principal at the end of the four month. 2 : You obtained a mortgage to buy a home. You will pay $800 per month to cover both interest and principal. 3 : a way used by the US government to borrow money on short-term basis. 4 : You borrow $1,000 from your best friend. In return, you will give him back $1150 in 3 months. Answer : Pure discount loan : Amortized Loan : Interest-only Loan : Treasury Bill

Explanation / Answer

Interest-only Loan

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