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A loan was made 5 years ago for $100,000 with an interest rate of 4% and monthly payments of $477.42 over a 30-year loan term.

A loan was made 5 years ago for $100,000 with an interest rate of 4% and monthly payments of $477.42 over a 30-year loan term. The loan balance after 5 years is $90,447.21. What is the percentage discount of the market value of this loan if the current market rate of interest is 5%?

a) 9%

b) 11%

c) 12%

d) 10%

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