A Loan of $4000 Is Due in 9 Months with Simple

Multiple Choice

A loan of $4000 is due in 9 months with simple interest at 8%.The borrower makes partial payments of $150 in 3 months and $2500 in 6 months.Using the declining balance method,what is the balance due in 9 months?

A) $1508.60
B) $1534.00
C) $1538.77
D) $1540.20