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 11% 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

Explanation:

final loan amount = $18,455.86

so correct option is c. $18,455.86

Explanation:

given data

loan = $18000

rate =  10%

time = 3 months

to find out

total amount that Rahul owes the bank at the end of the loan

solution

we know that number of day in 3 months is

number of day = 3 ×  

number of day = 91.25 days

loan rate =  

loan load = 0.00027397

now final loan amount will be

final loan amount = loan amount ×        

final loan amount = $18000  ×    

final loan amount = $18,455.86

so correct option is c. $18,455.86

answer; specific performance;

muslims control the north africa during the period of 1500 up

to 1800. they made a barrier to prevent further european exploration from

entering the africa from the north. however, the dutch ware still able to move

toward the interior with having south africa as one of the routes leading to

the east for trading with asia.