Multiple Choice
A person borrows $4000 at a simple interest rate of 7%.They agree to repay the loan with payments of X at the end of 2 months,2X at the end of 4 months,and 2X at the end of 6 months.Using 6 months as the focal date,what is X?
A) $798.20
B) $809.12
C) $820.34
D) $828.00
Correct Answer:
Verified
Correct Answer:
Verified
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