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28 December, 15:24

Mia borrowed 5,000 from her grandparents to pay college expenses. She pays them 125 each month, and simple interest at an annual rate of 5% on the remaining valence of the loan at the end of the year?

How many months will it take her to pay the loan off? Explain.

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  1. 28 December, 15:45
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    It will take her 40 months
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