Your Child's Orthodontist Offers You Two Alternative Payment Plans

Your child's orthodontist offers you two alternative payment plans.The first plan requires a $4,000 immediate up-front payment.The second plan requires you to make monthly payments of $137.41,payable at the end of each month for 3 years.What nominal annual interest rate is built into the monthly payment plan?

A) 17.81%
B) 14.50%
C) 14.36%
D) 13.50%
E) 11.34%