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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<…

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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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

User Lest
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2 Answers

2 votes

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

User Nickrak
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7 votes

Answer:

The answer is interest. Good luck to ya.

Explanation:

User Biomiker
by
7.9k points
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