You Desperately Need Some Money and Only Your "Miserly" Friend

Multiple Choice

You desperately need some money and only your "miserly" friend has any.He agrees to loan you the money you need if you make payments of $25 a month for the next 6 months.In keeping with his reputation,he requires that the first payment be paid today.He also charges you 1.65 percent interest per month.How much money are you borrowing?

A) $144.04
B) $140.98
C) $113.94
D) $141.70
E) $114.96