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The Lipa Co . is notoriously known as a slow - payer. It currently needs to borrow $ 2 5 , 0 0 0 and

The Lipa Co. is notoriously known as a slow-payer. It currently needs to borrow $25,000
and the terms of the loan call for daily payments of $30.76. The first payment is due today. The interest rate
is 21% compounded daily. What is the time period of this loan?
A.2.88 years
B.2.94 years
C.3.00 years
D.3.13 years
E.3.25 years

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