Find how long will take to repay the loan

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Repaying a Loan

Problem 1: While Mary Corens was a student at the University of Tennessee, she borrowed $10,000 in student loans at an annual interest rate of 7%. If Mary repays $1,200 per year, then how long (to the nearest year) will it take her to repay the loan? Do not round intermediate calculations. Round answer to the nearest whole number.

Reference no: EM132649790

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