Fanagi Corp. borrowed $50,000 from its bank at a 6% annual interest rate and will repay $514,286. Assume annual compounding. In approximately how many years will Fanagi repay the loan? Use the future value of $1 factor table shown below. Periods 1% 1.01000 1.02010 1.03030 1.04060 1.05101 1.10462 1.22019 1.28243 1.34785 1.41660 1.48886 2% 1.02000 1.04040 1.06121 1.08243 1.10408 1.21899 1.48595 1.64061 1.81136 1.99989 2.20804 3% 1.03000 1.06090 1.09273 1.12551 1.15927 1.34392 1.80611 2.09378 2.42726 2.81386 3.26204 4% 1.04000 1.08160 1.12486 1.16986 1.21665 1.48024 2.19112 2.66584 3.24340 3.94609 4.80102 5% 1.05000 1.10250 1.15763 1.21551 1.27628 1.62889 2.65330 3.38635 4.32194 5.51602 7.03999 6% 1.06000 1.12360 1.19102 1.26248 1.33823 1.79085 3.20714 4.29187 5.74349 7.68609 10.28572