A borrower who pays interest only for the entire term and then repays the principal in one lump sum at maturity has what type of loan?

A fully amortized loan requires the borrower to make regular payments that cover both the interest and a portion of the principal over the term of the loan. This means that by the end of the term, the loan is completely paid off, which contrasts with a straight loan where the principal remains unchanged until maturity.

A term loan can refer to any loan with a fixed repayment period, and can be either amortized or non-amortized. While it may include interest-only payments, it does not specifically define the situation where only interest is paid for the entire term, making it less precise than "straight loan."

A partially amortized loan requires payments that cover both interest and some principal, but it does not fully pay off the loan by the end of the term. A balloon payment is typically required at maturity to settle the remaining principal, making it different from a straight loan where the principal is not paid down at all until the end.