mit lest Time to repay installment loan Personal Finance Problem Mia Salto wishes to determine how long it will take to repay a $20,000 toan given that the bander requires her to make annual end of year installment payments of 53,361 a. If the interest rate on the loan is 125, how long will take for her to repay the loan fully? b. How long will it take if the interest rate is 9%? c. How long will it take if she has to pay 15% annual interest? d. Reviewing your answers in parts a bande describe the general relationship between the interest rate and the amount of time it will take Mis to rupay the loan tilly 2. If Mia can borrow at an annual interest rate of 12%, the amount of time it will take for her to repay the loan fully is yours. (Round to two decimal places) Mia can borrow at an annual interest rate of 9% the amount of time it will take for her to pay the loan fully to years (Round to two decimal places) c. Mis can borrow at an annual interest rate of 15%, the amount of time will take for her to repay the loan fully in years(Round to two decimal places) d. Reviewing your answers in parts a, b, and e describe the general relationship between the interest rate and the amount of time it will take Mia to repay the loon fully (Select the best answer below) OA. The higher the interest rate, the lower the number of time periods needed to repay the loan fully OB. The higher the interest rate, the greater the number of time periods needed to repay the loan fully OC The lower the Interest rate the greater the number of time periods needed to repay the loan fully D. The interest rate does not affect how long it will take to repay the loan