Multiple Choice
Fanagi Corp.borrowed $58,000 from its bank at a 6% annual interest rate and will repay $250,000.Assume annual compounding.In approximately how many years will Fanagi repay the loan?
A) 5 years
B) 19 years
C) 23 years
D) 25 years
Correct Answer:
Verified
Correct Answer:
Verified
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