On September 15, Miguel has student loans totalling $25,000. Miguel agreed to a $350 per month repayment schedule at which time the annual simple interest rate was 7.45%. Determine the balance of the loan at the end of November.
A) $25,666.55
B) $25,555.44
C) $24,444.55
D) $24,333.22
E) $24,666,33

Question

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The Answer of On September 15, Miguel has student loans totalling $25,000. Miguel agreed to a $350 per month repayment schedule at which time the annual simple interest rate was 7.45%. Determine the balance of the loan at the end of November.
A) $25,666.55
B) $25,555.44
C) $24,444.55
D) $24,333.22
E) $24,666,33

On September 15, Miguel Has Student Loans Totalling $25,000