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stranahan stranahan
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7 years ago
Your bank grants you a lump sum loan today equal to the face value of the loan less the interest. Further you must repay the face value of the loan amount in a single lump sum at the end of one year. These terms most closely resemble which of the following types of bank loan?
A) Discount loan
B) Compensating balance loan
C) Line of credit
D) Straight loan with a pre-set payment schedule
Textbook 
Financial Management: Core Concepts

Financial Management: Core Concepts


Edition: 2nd
Author:
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flappunctualflappunctual
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7 years ago
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stranahan Author
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#2
7 years ago
Thank you for  the help. I had a few questions on a few of them and this really confirmed my answers.
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