Question 1101845
he borrows 9000 at the beginning of the first year.


at the end of the first year, his remaining balance is 9000 * 1.09 - 920 = 8890.


at the end of the second year, his remaining balance is 8890 * 1.09 - 920 = 8770.1.


at the end of the third year, his remaining balance is 8770.1 * 1.09 - 920 = 8639.409


the loan is paid off between 24 years and 25 years.


the remaining balance for the 25 years is shown below.


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<img src = "http://theo.x10hosting.com/2017/111702.jpg" alt="$$$">