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We had agreed to pay a debt of $ 40,000 contracted at the rate of 15%, capitalization monthly, by paying each month end $ 1,524.32.
We had agreed to pay a debt of $ 40,000 contracted at the rate of 15%, capitalization monthly, by paying each month end $ 1,524.32. Just before paying the first monthly payment, the creditor allows the number of monthly payments to be doubled. The rate will remain unchanged and payments will still be made at the end of the month. The amount of each monthly payment of the new annuity will be:
A. $ 1,148.67
B. $ 648.67
C. $ 760.24
D. $ 762.16
E. $ 911.68
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