Marty Took a $5000 Loan from a Financial Institute at a Rate

Multiple Choice

Marty took a $5000 loan from a financial institute at a rate of 6%, which should be repaid in two equal installments of $2575.25 made every 4 months. How much more interest would have been paid, had Marty paid it in a single installment after 8 months?

A) $75.25
B) $150.50
C) $200
D) $49.50
E) $0