Ada Had $12,500 in Student Loans

Multiple Choice

Ada had $12,500 in student loans. On Sept 3, she began repayments of $450 per month when interest rates were 9.2% annually. On October 8 the interest rates rose to 9.5%. By what amount will the principal be reduced given the $450 payment on October 31?

A) $361.42
B) $355.18
C) $352.09
D) $350.01
E) $347.78