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While Mary Corens was a student at the University of Tennessee, she borrowed $20,000 in student loans at an annual interest rate of 5%. If
While Mary Corens was a student at the University of Tennessee, she borrowed $20,000 in student loans at an annual interest rate of 5%. If Mary repays $200 per year, then how long (to the nearest year) will it take her to repay the loan? PV Student loan RATE NPER Interest rate Term of loan(Yrs) Yearly paymenet 20,000 5% -36.72 200 PMT Pu=PMT 1-(1+i)" 20.000=200 1-(1,055" 0,05 1 60 X 0,05 -1-(1.05) 5:1-11,05) 1 43 - (1,05)- 1.050 4*1.05" =-| 1.05 = - 12 ? Next n = log- 0,25 i loglios error
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