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One of your friends takes a loan of $10,000 from a bank at 14 per cent interest rate. If your friend plans to

repay $1,000 per quarter against this loan amount, in how many years she would be able to repay the loan (and accumulated interest) fully?

Group of answer choices

15.83 years

3.13 years

2.85 years

3.29 years

Which is the correct answer to and process to get answer please.

Top Answer

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