Multiple Choice
A debt of $5000 is to be paid off by installments of $2000 in 30 days,$2500 in 60 days,and a final payment of $584.15.If simple interest is charged at r = 12% and the Declining Balance Method is used,in how many days should the final payment be made?
A) 25
B) 32
C) 85
D) 92
Correct Answer:
Verified
Correct Answer:
Verified
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