How many regular annual payments

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Reference no: EM131822328

Allysha just borrowed 49,200 dollars. She plans to repay this loan by making a special payment of 5,600 dollars in 4 years and by making regular annual payments of 7,800 dollars per year until the loan is paid off. If the interest rate on the loan is 4.51 percent per year and she makes her first regular annual payment of 7,800 dollars in one year, then how many regular annual payments of 7,800 dollars must Allysha make? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).

Reference no: EM131822328

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