Darlene takes out a $10,000 loan to be paid back in monthly payments of P over the next five years. The nominal annal interest rate is 12 percent compounded monthly. After making the first payment one month from the date of the loan, she begins a habit of skipping two monthly payments after each payment of P. Determine the loan balance five years after taking out the loan

a) less than 12,060

b) at least 12,060 but less than 12,090

c) at least 12,090 but less than 12,120

d) at least 12,120 but less than 12,150

e) at least 12,150