Multiple Choice
A loan of $5000 is taken out on May 25.The interest rate on the loan is r = 12%.A payment of $105 is made 102 days later and a payment of X,is due 175 days after May 25.What is X if the declining balance method is used?
A) $5180.15
B) $5182.67
C) $5184.18
D) $5287.67
Correct Answer:
Verified
Correct Answer:
Verified
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