Car loans and mortgage loans are typical annuities in the form ofQuestion 11Select one:A.maturity loans.B.compound loans.C.amortized loans.D.payment loans.
Question
Solution 1
The correct answer is C. Amortized loans.
Explanation:
An annuity is a series of equal payments made at regular intervals. Car loans and mortgage loans are typical examples of amortized loans, which are a type of annuity.
Amortized loans are loans where the principal of the loan is paid down over Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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