Calculation Of Present Value Of Payments Made For Student Loans
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Question
While Anderson Brooke was a student at UCLA, he borrowed $50,000 in student loans at an annual rate of 4 percent. If Anderson repays $5,000 per year, how long to the nearest year, will it take him to repay the loan?
Summary
The question belongs to Finance and it discusses about calculation of present value of payments made for student loans.
Total Word Count 66
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