Theresa borrowed $3226.00 compounded annually to help finance her education She contracted to repay the loan in annual payments of $314.00 each If the payments are due at the end of each year and internst is f compounded annualy, how long will Theresa have to make annual payments? State your answer in years and months (hom 0 to 11 months)

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Theresa borrowed $3226.00 compounded annually to help finance her education She contracted to repay the loan in annual payments of $314.00 each If the payments are due at the end of each year and internst is %
compounded annually, how long will Theresa have to make annual payments? State your answer in years and months (trom 0 to 11 months)
Theresa will have to make payments for 60 year(s) and 0 month(s)
Transcribed Image Text:Theresa borrowed $3226.00 compounded annually to help finance her education She contracted to repay the loan in annual payments of $314.00 each If the payments are due at the end of each year and internst is % compounded annually, how long will Theresa have to make annual payments? State your answer in years and months (trom 0 to 11 months) Theresa will have to make payments for 60 year(s) and 0 month(s)
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