Multiple Choice
A loan of $10,000 is taken out on October 29,2010 and is to be paid off with 2 equal installments of X,to be paid on November 18 and December 29.What is the value of X if r = 7% and the Merchant's rule is used?
A) $5038.68
B) $5057.21
C) $5102.45
D) $5171.99
Correct Answer:
Verified
Correct Answer:
Verified
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