Business, 21.12.2019 04:31 Anthonyc123

Another bank is also offering favorable terms, so rahul decides to take a loan of $18,000 from this bank. he signs the loan contract at 10% compounded daily for three months. based on a 365-day year, what is the total amount that rahul owes the bank at the end of the loan's term? (hint: to calculate the number of days, divide the number of months by 12 and multiply by 365.)

a. $18,086.74
b. $17,902.18
c. $18,455.86
d. $19,563.21

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