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A person borrows $12636 at 5.57% per annum simple interest. She is to repay the debt with 3 equal payments, the 1st at the end
A person borrows $12636 at 5.57% per annum simple interest. She is to repay the debt with 3 equal payments, the 1st at the end of 5 months, the 2nd at the end of 10 months and the 3rd at the end of 15 months. Determine the size of the payments using the focal date of 0 month.
A) $ 4411.26
B) $ 4409.26
C) $ 4406.06
D) $ 4410.26
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