If I borrowed 15,000 in student loans at an annual interest of 7%. and then repay $1800

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If I borrowed 15,000 in student loans at an annual interest of 7%. and then repay $1800 per year, then how long will it take me to repay the loan?

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Corporate Finance A Focused Approach

ISBN: 978-1439078082

4th Edition

Authors: Michael C. Ehrhardt, Eugene F. Brigham

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Posted Date: Apr 26, 2024 09:13 AM

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If I borrowed 15,000 in student loans at an annual interest of 7%. and then repay $1800

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Expert Answer:

To calculate the time taken to repay the loan we can use the Loan Repayment Formula Payoff Time in y... View the full answer

Corporate Finance A Focused Approach

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