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Can someone help me with this questions including equation/formula used to determine answer? While Mary Corens was a student at the University of Tennessee, she
Can someone help me with this questions including equation/formula used to determine answer?
While Mary Corens was a student at the University of Tennessee, she borrowed $12,000 in student loans at an annual interest rate of 8.30%. If Mary repays $1,500 per year, how long (rounded up to the nearest year) will it take her to repay the loan?
Interest Rate 8.30%
PV $12,000.00
PMT $1,500.00
Periods= N
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