A Loan Was Taken Out on March 3,2010 at a Simple

Multiple Choice

A loan was taken out on March 3,2010 at a simple interest rate of 8%.Interest is to be calculated using ordinary interest (Banker's rule) .The amount repaid in 6 months is $12,482.67.What was the original amount of the loan?

A) $11,992.32
B) $11,998.77
C) $12,002.57
D) $12,003.83