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You have just received an offer in the mail from Friendly Loans. The company is offering to loan you $5,750 with low monthly payments of

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You have just received an offer in the mail from Friendly Loans. The company is offering to loan you $5,750 with low monthly payments of $150 per month. If the interest rate on the loan is an APR of 15.9 percent compounded monthly how long will it take for you to pay off the loan? Multiple Choice 13.28 months 53.87 months 58.02 months 38.33 months 50.28 months

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