Number of payments Tony is offering two repayment plans to Phil for a long overdue loan Offer 1 is to receive a visit from an enforcer and the debt is due in full a once Offer 2 is to pay back $4,100 at the end of the year at an interest rate of 23% until Phil pays off the loan principal. Phil owes Tony S16,000 How long will it tal for Phil to pay off the loan it he takes offer 2? How long will it take for Phi to pay off the loan if he takes offer 27 years and in an derimalas