If you borrow $10,000 with a 1% origination fee of $100, how will it affect the amount of loan money you receive and how much you must pay back later?

Question

A. You receive $9,900, but must pay back the full $10,000 later.

B. You receive $10,100, and must pay it all back later.

C. You only have to pay back the $100 origination fee.

D. It doesn't have an impact on what you receive or pay back later.

Answer 1

It’s A, just took the quiz

Answer 2

b