You Borrow $10,000 and Will Pay Back the Entire Amount

question 67

Multiple Choice

You borrow $10,000 and will pay back the entire amount in 10 years. You are charged 6 percent interest per year. How much interest do you pay on this loan?

• A) $6,000.00
• B) $7,715.61
• C) $7,908.48
• D) $11,193.97

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