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 balance of the loan at the end of each year.

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 balance of the loan at the end of each year. For how many years will she pay interest?

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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 balance of the loan…

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