A loan has a variable interest rate that fluctuates between 4% and 9% of the base payment per month. If base payments remain at $500 each month and an additional monthly surcharge of 2% is added to the combined (base + interest), what would be the greatest possible payment due in any given month? Choose the correct choice from the following answers
A) $555.45 B) $555.55 C) $555.90 D) $556.45 E) $556.90
The maximum interest in one month is 9%*$500=$45.   The combined payment (base plus interest) is $500 + $45 = $545.   The greatest possible payment is: 1.02*$545  500 +  45= 
<gadget id="calculator">  500 +  45</gadget>
<output>545</output>
$545.   The greatest possible payment is: 1.02*$545=$555.90.   The answer is $555.90.
<result>C</result>
A loan has a variable interest rate that fluctuates between 4% and 9% of the base payment per month. If base payments remain at $500 each month and an additional monthly surcharge of 2% is added to the combined (base + interest), what would be the greatest possible payment due in any given month?