The Bad Guys Co

The Bad Guys Co. is notoriously known as a slow-payer. They currently need to borrow $25,000 and only one company will even deal with them. 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 a year.

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