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Hi expert! Please help to solve this question. Thank you so much Simon borrows $7,000 from the bank and wants to repay the amount in

Hi expert! Please help to solve this question. Thank you so much

Simon borrows $7,000 from the bank and wants to repay the amount in equal installments of $950. Payments will be made at the end of each year. The bank wishes to earn interest on this loan at 6%. Approximately how many years will it take Simon to repay the loan?

7 years

10 years

8 years

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