A Man Takes Out a Loan at a Simple Discount

Multiple Choice

A man takes out a loan at a simple discount rate of d = 7.5%.If the amount he pays back in 11 months is $8235,what is the fee he pays for borrowing the money and when does he pay this fee?

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