Multiple Choice
A loan of $20,000 is to be paid off with 2 equal installments of X,occurring 3 months from now and 8 months from now.What is the value of X if r = 9 % and Merchant's Rule is used?
A) $10,291.26
B) $10,404.91
C) $10,409.12
D) $10,413.19
Correct Answer:
Verified
Correct Answer:
Verified
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