If you borrow $10,000 over five years, at the end of the five years, what will you have paid?(1 point) Responses $10,000 $10,000 less than $2,000 less than $2,000 $2,000 $2,000 more than $10,000

Answer 1

The total amount paid at the end of five years will depend on the interest rate and the payment structure of the loan. If you're simply borrowing $10,000 without any interest, you will have paid back exactly $10,000. However, most loans have interest, so you would typically end up paying more than $10,000 by the end of the five years.

Given the typical scenarios and without specific details about the interest rate, the most accurate choice would likely be $2,000 more than $10,000, as you would generally expect to pay back the principal plus interest.