Mary Is Planning to Repay a Debt of 50,000 with a Quarterly

Multiple Choice

Mary is planning to repay a debt of 50,000 with a quarterly payment $2,400 for the next 23 quarters and a final payment of "X" dollars at the end of 24-th quarter. If the interest rate is 12% per year, compounded quarterly, how much will be Mary's final payment?

A) $21,426
B) $22,176
C) $23,010
D) $23,920