6.(Annuity number ofperiods) How long will it take to pay off a loan of $47,000 at an...
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Question:
6.(Annuity number ofperiods)How long will it take to pay off a loan of $47,000 at an annual rate of 9 percent compounded monthly if you make monthly payments of $650? Use five decimal places for the monthly percentage rate in your calculations.
*The number of years it takes to pay off the loan is ? (Round to one decimal place)
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