Wasup Corp. is thinking of borrowing $110,000 from its bank at 8% annual interest rate. The amount that will be repaid is $138,568. Assume annual compounding. In approximately how many years will Wasup Corp. need to repay the loan? Use the future value of $1 factor table shown below. Excerpt of Future Value of $1 Table

Periods	7%	8%	9%
1	1.07000	1.08000	1.09000
2	1.14490	1.16640	1.18810
3	1.22504	1.25971	1.29503
4	1.31080	1.36049	1.41158
5	1.40255	1.46933	1.53862
6	1.50073	1.58687	1.67710
7	1.60578	1.71382	1.82804

3 years

4 years

5 years

6 years