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5. Your bank offers you a personal loan of $16,000.00 at an interest rate of 4.39% compounded quarterly. At the end of the term, interest

5. Your bank offers you a personal loan of $16,000.00 at an interest rate of 4.39% compounded quarterly. At the end of the term, interest of $4,342.73 was charged on the loan. Calculate the term of this loan.

years

months

Express the answer in years and months, rounded to the nearest month.

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