Question: A $ 1 2 , 0 0 0 loan is repaid by semi - annual payments of $ 1 , 5 0 0 each. Interest

A $12,000 loan is repaid by semi-annual payments of $1,500 each. Interest on the loan is 10% compounded semi-annually. How long will it take to pay off the loan?
a
10 years
b
5 years
c
21 years
d
5.5 years

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