Mia Salto wishes to determine how long it will take to repay a loan with initial proceeds $14000 where annual end-of-year installment payments of $2958 are required. a. if Mia can borrow at an annual interest rate of 12% how long will it take for her to repay the loan fully? b. how long will it take if she can borrow at an annual rate of 9%? c. how long would it take if she has to pay 15% annual interest rate? d. revealing your answers in part A B and C describe the general relationship between the interest rate and the amount of time it will take me to repay the loan fully
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