Question: You borrowed $1,500 at 6% compounded annually. Your payments are $148.43 at the end of each year. How many years will you make payments on

You borrowed $1,500 at 6% compounded annually. Your payments are $148.43 at the end of each year. How many years will you make payments on the loan?

Select one:

a. 15 years

b. 16 years

c. 14 years

d. forever

e. 13 years

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