You borrowed $1000 from your bank to buy a motorcycle, but you are required to pay the bank back $1200. What is this extra $200 called? A) credit B) deposit C) interest D) loan

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asked Dec 28, 2020 2.4k views

3 votes

You borrowed $1000 from your bank to buy a motorcycle, but you are required to pay the bank back $1200. What is this extra $200 called? A) credit B) deposit C) interest D) loan

Mathematics
high-school

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The extra $200 is interest the bank charges you for borrowing their money.

Nickrak answered Dec 31, 2020

by Nickrak

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7 votes

Answer:

The answer is interest. Good luck to ya.

Explanation:

Biomiker answered Jan 2, 2021

by Biomiker

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