Student loans at an interest rate

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Reference no: EM131078015

While you were a student in college, you borrowed $12,000 in student loans at an interest rate of 9 percent, compounded annually. If you repay $1,500 per year, how long, to the nearest year, will it take you to repay the loan? I need excel formula to solve this, and cash flow diagram.

Reference no: EM131078015

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