A loan has a variable interest rate that fluctuates between 5% and 9% of the base payment per month. If base payments remain at $250 each month and an additional monthly surcharge of 1% 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
A) $ 262.50 B) $ 265.13 C) $ 272.50 D) $ 275.23 E) $ 286.13
To find the maximum amount, select the maximum rate that is 9%. Therefore the combined amount is 272.5.   To this amount add 1% extra of it, as a surcharge.   This will be something close to 275.   ANSWER:$ 275.23
<result>D</result>
A loan has a variable interest rate that fluctuates between 5% and 9% of the base payment per month. If base payments remain at $250 each month and an additional monthly surcharge of 1% is added to the combined (base + interest), what would be the greatest possible payment due in any given month?