Question: A=P+Prt where A is the amount (total principal plus interest) required to repay the loan. P is the amount borrowed, the principal. r is the

A=P+Prt where A is the amount (total principal plus interest) required to repay the loan. P is the amount borrowed, the principal. r is the annual interest rate, quoted as a percent, but used as a decimal in the formula. t is the time, in years, taken to repay the loan (six months would be frac(1,2) year). Suppose you get a loan of $11,000 at an annual interest rate of 2.25%. Estimate the maximum time allowed to repay the loan if you want the total payoff to be less than $14,000. About years

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