A loan is:
A. a payment made periodically to all shareholders of a company.
B. a promise by the bond issuer to repay the loan, at a specified maturity date, and to pay periodic interest at a specific percentage rate.
C. an agreement in which a lender gives money to a borrower in exchange for a promise to repay the amount loaned plus an agreed-upon amount of interest.
D. a financial asset that represents partial ownership of a company.
Answer: C
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