Question: Multiple Choice 2 points If you borrow $ 1 , 0 0 0 today to be paid back one year from today at 5 %

Multiple Choice
2 points
If you borrow $1,000 today to be paid back one year from today at 5% interest, the payment you will have to make in one year will be
$1,050.
$1,005.
$1,500.
$1,055.
Multiple Choice 2 points If you borrow $ 1 , 0 0

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