Answered: Stan borrowed $5 000 one year ago. Now…

Stan borrowed $5 000 one year ago. Now he has to repay $5 100. The interest Stan pays is O a. $5 100 O b. 102% O c. $100 O d. 2% O e. $5 000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Stan borrowed $5 000 one year ago. Now he has to repay $5 100. The interest Stan pays is
O a. $5 100
O b. 102%
O c. $100
O d. 2%
O e. $5 000

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