If you borrow $100 and have to pay back $110 five years later, the interest rate on the loan is
A) a bit less than 2%
B) 2%
C) a bit more than 2%
D) 10%
Answer: A
If you borrow $100 and have to pay back $110 five years later, the interest rate on the loan is
A) a bit less than 2%
B) 2%
C) a bit more than 2%
D) 10%
Answer: A