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Jason borrows $ 1 0 3 0 0 for the next 4 years at a variable interest rate. Assume that the interest accumulates for 4

Jason borrows $ 10300 for the next 4 years at a variable interest rate. Assume that the interest accumulates for 4 years at an annual nominal rate of 11% compounded quarterly. Calculate the outstanding loan balance that Jason will have to settle if he makes no prior payment until the end of the 4 years.
a.
$ 16057.13
b.
$ 16784.57
c.
$ 15898.15
d.
$ 16375.09
e.
$ 44397.54

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