Question: You borrowed $3,500 at 5% compounded annually. Your payments are $350 at the end of each year. How many years will you make payments on

You borrowed $3,500 at 5% compounded annually. Your payments are $350 at the end of each year. How many years will you make payments on the loan?

Group of answer choices

8.13 years

10.87 years

8.31 years

14.21 years

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