Question
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
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 at once. Offer 2 is to pay back $4,200 at the end of the year at an interest rate of 24% until Phil pays off the loan principal. Phil owes Tony $10,000. How long will it take for Phil to pay off the loan if he takes offer 2? Question content area bottom Part 1 How long will it take for Phil to pay off the loan if he takes offer 2? enter your response here years(Round to two decimal places.)
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