SOLUTION: A loan of $48,000 is made at 8.75% interest, compounded annually. After how many years will the amount due reach $ 153,000 or more? (Use the calculator provided if necessary.) Wri

Algebra ->  Finance -> SOLUTION: A loan of $48,000 is made at 8.75% interest, compounded annually. After how many years will the amount due reach $ 153,000 or more? (Use the calculator provided if necessary.) Wri      Log On


   

Question 1189772: A loan of $48,000 is made at 8.75% interest, compounded annually. After how many years will the amount due reach $ 153,000 or more? (Use the calculator provided if necessary.)
Write the smallest possible whole number answer.
Answer by ikleyn(52781) About Me  (Show Source):
You can put this solution on YOUR website!
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Use the calculator provided - - - AS INSTRUCTED.