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Mike borrows X from a bank that charges an effective rate of 10 % a year. He repays the loan with payments at the end
Mike borrows X from a bank that charges an effective rate of 10 % a year. He repays the loan with payments at the end of every six months for n years. The interest paid in the first payments is $ 2,928.53. The interest paid in the last payment is $ 209.83. Find n.
A 11 years
B 12 years
C 13 years
D 14 years
E 15 years
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