William borrowed $15,500 at an annual simple interest rate of 12.50 percent. He repaid the loan by

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William borrowed $15,500 at an annual simple interest rate of 12.50 percent. He repaid the loan by paying a lump sum of $15,894.93. What was the term of the loan

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William borrowed $15,500 at an annual simple interest rate of 12.50 percent. He repaid the loan by

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