Multiple Choice
The Bad Guys Co. is notoriously known as a slow-payer. It currently needs to borrow $25,000 and only one company will even deal with Bad Guys. The terms of the loan call for daily payments of $30.76. The first payment is due today. The interest rate is 21% compounded daily. What is the time period of this loan?
A) 2.88 years
B) 2.94 years
C) 3.00 years
D) 3.13 years
E) 3.25 years
Correct Answer:
Verified
Correct Answer:
Verified
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