Bill Has a Debt of $5000 Which Was Due 30

question 100

Multiple Choice

Bill has a debt of $5000 which was due 30 days ago.He also has another debt of $6000 due 90 days from now.It has been decided that these 2 debts will be settled by a payment of $4000 today and a final payment of X made 70 days from now.If the simple interest rate is r = 9%,what is the value of X if you use a focal date of now?

• A)$7025.94
• B)$7024.80
• C)$7000.00
• D)$6906.73

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