Ralph Signs an Instrument Promising to Pay a Total of $10,000

Multiple Choice

Ralph signs an instrument promising to pay a total of $10,000 to Martha in $1,000 monthly installments with the final payment being made on August 1.Ralph unexpectedly inherits $10,000 from his aunt on May 15.Ralph may

A) not complete his $10,000 payment before August 1.
B) complete his $10,000 payment before August 1.
C) increase his monthly payments by five percent,but not more.
D) increase his monthly payments by ten percent,but not more.