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Business, 09.10.2019 20:00 brevenb375

Another bank is also offering favorable terms, so rahul decides to take a loan of $12,000 from this bank. he signs the loan contract at 5% compounded daily for 12 months. based on a 365-day year, what is the total amount that rahul owes the bank at the end of the loan's term? (hint: to calculate the number of days, divide the number of months by 12 and multiply by 365.) $12,489.06 $13,372.12 $12,615.21 $13,245.97

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