Question: You borrowed $278,890 from a bank. Interest is compounded annually and the annual interest rate is 2.85%. Suppose you make a yearly repayment of $30,000

You borrowed $278,890 from a bank. Interest is compounded annually and the annual interest rate is 2.85%. Suppose you make a yearly repayment of $30,000 every year, How long in years does it take to pay off the debt? (Round up to the nearast year)

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