Mia Salto wishes to determine how long it will take to repay a $10,000 loan given that the lender requires her to make annual end-of-year installment payments of $1,906.

a.If the interest rate on the loan is 12%, how long will it take for her to repay the loan fully?

b.How long will it take if the interest rate is 9%?

c.How long will it take if she has to pay 15% annual interest?

d. Reviewing your answers in parts