Gene's Art Gallery Is Notoriously Known as a Slow-Payer

Gene's Art Gallery is notoriously known as a slow-payer. The firm currently needs to borrow $27,500 and only one company will even deal with them. The terms of the loan call for daily payments of $100. The first payment is due today. The interest rate is 21.9 percent, compounded daily. What is the time period of this loan? Assume a 365 day year.

A) 264.36 days
B) 280.81 days
C) 300.43 days
D) 316.46 days
E) 341.09 days