Stephen must be disabled 60 days before he will receive any benefits from his disability policy. this 60-day period is the:
a waiting periodb probationary periodc elimination periodd policy period

correct option is C Elimination Period

Explanation:

given data

time period = 60 days

solution

As here time = 60 day period

it is the Elimination Period because the Elimination Period is time period that is in between the onset of disability and time at which it insured eligible for the benefit .  

and it can also be called as the deductible time period for the policy  

so here correct option is C Elimination Period

month 1 start amount =$3287.90 interest=(3287.90x0.0145/12)3.97 total to pay=$3291.81 paid =$1200 balance =$2,091.87

month 2 starting amount= $2,091.87 interest =$25.28 total to pay =$2117.15 paid =$1200 balance $917.15

month 3 starting amount =$917.15 interest =$11.08 total to pay =$928.23 paid =$928.23 balance =$0 total to pay 1200+1200+928.23 = $3328.23 it will take 3 months to pay a total of $3328.23

correct, but each time you dont pay the price of the penalty can increase.