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Jill borrows $24,000 from you today. She agrees to repay you in two equal amounts, the first to occur in 3 years from today and

Jill borrows $24,000 from you today. She agrees to repay you in two equal amounts, the first to occur in 3 years from today and the other in 7 years from today. If the interest rate is 11.3% per annum compounding monthly, what will be the amount of each repayment?

Select one:

a. $52739

b. $33632

c. $33090

d. $20536

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