Reference no: EM131112387
On March 1, Emily loaned Billy $1,000. Emily charged a monthly interest rate of 0.10 percent on the loan. Billy repaid all of the loan principal and interest on the agreed upon date, March 31. During the month, Emily decided that once Billy repaid the loan she wanted to buy a new Sony Handycam HD Camcorder from BestBuy. If the price of the camcorder on March 1 was $1,000 and followed the data in the table, did Emily have enough money to purchase the Sony Handycam?
A. Yes. The Sony Handycam cost $1,000 on March 31, and Emily had $1,010 from the principal and interest paid by Billy.
B. Yes. The Sony Handycam cost $900 on March 31, and Emily had $1,000 from the principal paid by Billy.
C. No. The Sony Handycam cost $1,002 on March 1, but Emily only had $1,001 from the principal and interest paid by Billy.
D. No. The Sony Handycam cost $1,200 on March 1, but Emily only had $1,000 from the principal and interest paid by Billy.
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