Dorothy borrows $5,000 at a simple interest rate of r = 4%. She pays $1,200 at the end of 40 days, $3,000 at the end of 85 days and makes a final payment of $X at the end of 110 days.

Using the Declining Balance Method, what is $X, the final payment amount?

A.

$ 840.77

B.

$ 842.85

C.

$ 843.07

D.

$ 844.14