A trader owes a merchant $10000 due 1 year hence. The trader wants to settle the account after 2 months. If the rate of interest 12% per annum, how much cash should he pay? Choose one:
A) $9090.90
B) $9010.90
C) $7090.90
D) $8090.90
E) $9000.90
Required money	= P.W. of $10000 due 10 months hence   = $((10000*100) / 100+ (12*10/12) )   = $9090.90   $9090.90NSWER:$9090.90
<result>A</result>
A trader owes a merchant $10000 due 1 year hence. The trader wants to settle the account after 2 months. If the rate of interest 12% per annum, how much cash should he pay?