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Sainsbury wishes to determine how long it will take to repay a loan with initial proceeds of $14,000 where annual end-of-year installment payments of $2,450

Sainsbury wishes to determine how long it will take to repay a loan with initial proceeds of $14,000 where annual end-of-year installment payments of $2,450 are required. If Mia can borrow at a 12% annual rate of interest, how long will it take for her to repay the loan fully?

kindly mention the formula and elaborate it

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