On January 1, 2006, a consumer borrowed $10,000 for a term of one year at an interest rate of 12 percent. How much principal and interest will the consumer pay back on January 1, 2007?
A. $10,000
B. $1,200
C. $8,929
D. $11,200
Answer: D
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A. more for long-distance phone calls in the daytime. B. less for electricity at night. C. more for public transportation in rush hours. D. All of the above are true.
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a. True b. False Indicate whether the statement is true or false
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