On March 24,2014,Chen and Mary Borrow $18,000 Each at a Simple

Multiple Choice

On March 24,2014,Chen and Mary borrow $18,000 each at a simple interest rate r = 12%.Chen's bank calculates interest using exact interest,while Mary's bank uses the Banker's Rule (ordinary interest) .Let X = amount Chen pays back on September 24,2014,and Y = amount Mary pays back on September 24,2014.What is the value of X - Y?

A) -$15.12
B) -$8.88
C) $8.88
D) $15.12