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You have just received an offer in the mail from Friendly Loans. The company is offering to loan you $ 5 , 5 0 0

You have just received an offer in the mail from Friendly Loans. The company is offering to loan you $5,500 with low payments of $100 per month. If the interest rate on the loan is an APR of 14.7 percent compounded monthly, how long will it take for you to pay off the loan?
Multiple Choice
16.09 months
55.00 months
85.86 months
91.99 months
99.07 months

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