What annual installment will discharge a debt of $1092 due in 3 years at 12% simple interest? Choose the correct choice:
A) $210
B) $115
C) $295
D) $325
E) $415
Let each installment be x   [x + (x*12*1/100)] + [x + (x*12*2/100)] + x = 1092   28x/25 + 31x/25 + x = 1092   x = 325   Answer is $325
<result>D</result>
What annual installment will discharge a debt of $1092 due in 3 years at 12% simple interest?