1. Fanagi Corp. borrowed $57,000 from its bank at a 6% annual interest rate and will repay $182,807. Assume annual compounding. In approximately how many years will Fanagi repay the loan? Use the future value of $1 factor table shown below.

Excerpt of Future Value of $1 Table

Periods	1%	2%	3%	4%	5%	6%
1	1.01000	1.02000	1.03000	1.4000	1.5000	1.0600
2	1.02010	1.04040	1.06090	1.08160	1.10250	1.12360
3	1.03030	1.06121	1.09273	1.12486	1.15763	1.19102
4	1.04060	1.08243	1.12551	1.16986	1.21551	1.26248
5	1.05101	1.10408	1.15927	1.21665	1.27628	1.33823
10	1.1462	1.21899	1.34392	1.48024	1.62889	1.79085
20	1.22019	1.48599	1.80611	2.19112	2.65330	3.20714
25	1.28243	1.64061	2.09378	2.66584	3.38635	4.29187
30	1.34785	1.81136	2.42726	3.24340	4.32194	5.74349
35	1.41660	1.99989	2.81386	3.94609	5.51602	7.68609
40	1.48886	2.20804	3.26204	4.80102	7.03999	10.28572

1. 35 years
2. 25 years
3. 30 years
4. 20 years

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