MrsSingh Owes Mr

Mrs.Singh owes Mr.Valdy $55 513.78 in 14-months.Mr.Valdy agrees to let her repay the loan with a payment of $35 000 in 6-months,$10 000 in 10-months and $X in 14-months.If money is worth j₄ = 6%,what is the value of X,using 14-months as the focal date along with the exact method of crediting/charging interest?

A) $8894.58
B) $8895.72
C) $8896.37
D) $8897.69

Correct Answer:

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