Borrower owes $10,000 to lender, but fails to pay it back. T…

Borrower owes $10,000 to lender, but fails to pay it back. The debt consists of a loan with a $7,500 principal and $2,500 interest on the principal.  The statute of limitations has expired and thereafter Borrower tells Lender that he is sorry and promises, “I will pay you back $7,500 by January 31 of the following year” (“January 31 Promise”). Borrower fails to pay the agreed amount by January 31. In a jurisdiction that follows the Restatement 2d of Contracts, which of the following most accurately states Borrower’s obligation to Lender?