Question: The interest charged on an $ 8 5 0 0 0 loan is 7 . 7 5 percent compounded annually. How long it will take

The interest charged on an $85000 loan is 7.75 percent compounded annually. How long it will take to be paid off by annual payments of $9450?
Options:
a.24 years
b.8 years
c.12 years
d.16 years
e.20 years

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