What annual installment will discharge a debt of $100 due in 3 years at 10% simple interest?
Pick one.
A) 25.6	B) 50.2	C) 30.3	D) 45	E) 56
Let each installment be x   [x + (x*10*1/100)] + [x + (x*10*2/100)] + x = 100   11x/10 + 12x/10 + x = 100   x = 30.3   Answer is 30.3
<result>C</result>
What annual installment will discharge a debt of $100 due in 3 years at 10% simple interest?