Multiple Choice
An individual borrowed $10,000 nine months ago and another $6,000 three months ago and he wishes to pay off this loan with a payment of $X today.You are given that j2 = 10% and that the practical method of crediting/charging interest is used.Determine $X.
A) $16,918.90
B) $16,912.50
C) $16,907.46
D) $16,900.26
Correct Answer:
Verified
Correct Answer:
Verified
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