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Social Science 6 to 12

Question 9 of 30

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Competency 2—Knowledge of economics

DIRECTIONS: Read the question and select the best response.

A consumer uses a credit card that charges 10 percent annual interest to make a 1000 dollars purchase. What is the total cost of the purchase if the consumer pays 1 year from the date of purchase?

Choose an answer
Enter to expand or collapse answer.Answer expanded
Correct Response: D.