Damsy borrowed $10,000 from Money Credits at an 15% compounded quarterly.If she makes payments of $261.75 at the end of each month, how many years will it take to pay off her debt?

a)

4.35 years

b)

5.2 years

c)

13 years

d)

5.44 years

e)

4.33 years

Please see the attached formulas sheet to assist with solving this problem.

No super detailed explanationneeded, please just select the correct answer.

Formulas and Calculator Instructions Provided PMT = PV xi PV PMT PV xi PMT PMI OF PV Dye PMT 1+/ FV = PV(1+1)" FV PV = (1+1)" To switch between payments at the beginning/end of the interval: . Press 2ND BGN (above the PMT key). The display should show END or BGN. . Press 2ND SET (above the ENTER key). The display should show BGN or END. Press CE/C (bottom left corner) or 2ND QUIT (top left corner) to exit the worksheet