A Man Takes Out a Discounted Loan,with Face Amount $8235,at

Multiple Choice

A man takes out a discounted loan,with face amount $8235,at a simple discount rate of d = 7.5%.If the amount he pays back in 11 months is $8235,how much interest does the man pay on the loan and when does he pay the interest?

A) $529.74,paid today at issue of the loan
B) $529.74,paid at the end of 11 months
C) $566.16,paid today at issue of the loan
D) $566.16,paid at the end of 11 months