Which of these scenarios describes the COST of credit? Question 9 options: paying more for an item than its original cost paying

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3 years ago

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for a semester at college buying a safer vehicle

1 answer:

Illusion [34] · Answer 1 · 2022-03-01T01:53:05+03:00

The correct answer is "C) paying more than its original".

The cost of credit is also known as the interest is generated for paying the borrowed amount of money in a given period of time.

Interest is the value of money in time. An interest rate is a rate at which the interest grows throughout time.

Once you end up paying the credit. You will have ended up paying the original amount you borrowed plus the interest.