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While you were a student in college, you borrowed $12,000 in student loans at an interest rate of 9 percent, compounded annually. If you repay
While you were a student in college, you borrowed $12,000 in student loans at an interest rate of 9 percent, compounded annually. If you repay $1,500 per year, how long, to the nearest year, will it take you to repay the loan?
Due tonight at midnight. Thank you.
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