Multiple Choice
You owe the bank $2000 in 9 months.Instead you negotiate with the bank to pay $1200 in 3 months and $X in 7 months to fully pay off the loan.Using a simple discount rate of d = 9% and a focal date of 7 months from now,what is X?
A) $732.89
B) $734.44
C) $866.46
D) $877.08
Correct Answer:

Verified
Correct Answer:
Verified
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