(425) Repaying a Loan While Mary Corens was a student at the University of Tennessee, she borrowed...
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(4–25)
Repaying a Loan While Mary Corens was a student at the University of Tennessee, she borrowed
$12,000 in student loans at an annual interest rate of 9%. If Mary repays $1,500 per year, then how long (to the nearest year) will it take her to repay the loan?
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Related Book For
Financial Management Theory And Practice
ISBN: 9781439078105
13th Edition
Authors: Eugene F. Brigham, Michael C. Ehrhardt
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