James borrows 10000 from the bank by the time the loan is


James borrows $10,000 from the bank. By the time the loan is repaid, James has paid the bank $10,400. What does the additional $400 represent?

A) Inflation rate

B) Purchasing power of money Interest

C) Interest

D) Investment

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Microeconomics: James borrows 10000 from the bank by the time the loan is
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