A Person Borrows $100,000 at a Simple Interest Rate R

Multiple Choice

A person borrows $100,000 at a simple interest rate r = 24%.He is to repay the loan with 2 payments,one at the end of 2 months and the other at the end of 6 months.The first payment is the same as the 2^nd payment.Determine the size of the payments,using the end of 6 months as the focal date.

A) $46,296.30
B) $48,076.92
C) $53,846.15
D) $53,925.93