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A discounted loan of $8176 at a simple discount rate of 4.12% is offered to Ms. Jones. If the actual amount of money that Ms.

A discounted loan of $8176 at a simple discount rate of 4.12% is offered to Ms. Jones. If the actual amount of money that Ms. Jones receives today is $5430, determine the maturity period of the loan (the year when is the $8176 due to be paid back?

A) 10.14 years

B) 12.27 years

C) 8.15 years

D) 9.73 years

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