Question

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

$2,000
$2,000

more than $10,000
more than $10,000

less than $2,000

Answer 1

more than $10,000

You must repay the $10,000 principal plus interest (and possibly fees), so total payments over five years exceed $10,000.