If Riko takes out a one-year loan of $2,000 with a 10 percent annual interest rate, the price she will pay for borrowing is:
A) $2,000.
B) $2,200.
C) $200.
D) $2,400.

Name: If Riko takes out a one-year loan of $2,000 with a 10 percent annual interest rate, the price she will pay for borrowing is: A) $2,000. B) $2,200. C) $200. D) $2,400.
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Question

Quizplus · Accepted Answer

The price Riko pays for borrowing is the interest, which is 10% of $2,000, equaling $200.

If Riko Takes Out a One-Year Loan of $2,000 with a 10