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Theresa borrowed $3919 compounded annually to help finance her education. She contracted to repay the loan in annual payments of $297.00 each. If the payments
Theresa borrowed $3919 compounded annually to help finance her education. She contracted to repay the loan in annual payments of $297.00 each. If the payments are due at the end of each year and interest is 7% compounded annually , how long will Theresa have to make annual payments? State your answer in years and months (from 0 to 11 months).
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