If Jen takes out a $2,000 loan for one year at 10 percent interest annually, the price she will pay for borrowing is:
A) $2,000.
B) $2,200.
C) $200.
D) $2,400.

Name: If Jen takes out a $2,000 loan for one year at 10 percent interest annually, the price she will pay for borrowing is: A) $2,000. B) $2,200. C) $200. D) $2,400.
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The interest on the loan is calculated as 10% of $2,000, which is $200. This is the cost of borrowing the money for one year.

If Jen Takes Out a $2,000 Loan for One Year