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Sonia borrowed $3717.00 compounded annually to help finance her education. She contracted to repay the...

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Accounting

Sonia borrowed $3717.00 compounded annually to help finance her education. She contracted to repay the loan in annual payments of $251.00 each. If the payments are due at the end of each year and interest is 5% compounded annually, how long will Sonia have to make annual payments? State your answer in years and months (from 0 to 11 months).ion 4Sonia will have to make payments for year(s) and months).

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