Question: Christopher Edwards LLC Engineering firm borrowed $ 1 0 0 , 0 0 0 to purchase a new AC unit for the building. The annual

Christopher Edwards LLC Engineering firm borrowed $100,000 to purchase a new AC
unit for the building. The annual loan payment is $8,880 at 8% per year for 30 years. The
companys CEO decides to make $10,000 annual payments instead, in hopes of paying
off the loan sooner. Using the Linear interpolation method, how long will it take (to the
nearest years and months) to repay the loan using the CEOs decision

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