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#122 Joseph buys a Hummer for $71,000, financing it with a five-year 7.3% APR loan paid monthly. He decides to pay an extra $50 per

#122

Joseph buys a Hummer for $71,000, financing it with a five-year 7.3% APR loan paid monthly. He decides to pay an extra $50 per month in addition to his monthly payment. Approximately how long will he take to pay off the loan under these conditions?

A. 51.21 months

B. 47.68 months

C. 54.73 months

D. 57.55 months

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