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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
(C) Interest
(1) Investment
in Economics & Finance by Platinum (95,794 points) | 16 views

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