Bad Guys Plc Is Notoriously Known as a Slow-Payer

question 27

Multiple Choice

Bad Guys plc is notoriously known as a slow-payer.It currently needs to borrow £25,000 and only one company will even deal with Bad Guys.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?(Assume 365 days in a year.)

• A)2.88 years
• B)2.94 years
• C)3.00 years
• D)3.13 years
• E)3.25 years

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