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8.43 At a nominal annual interest rate of 10% compounded monthly, how long (how many months) will it take to retire a $50,000 loan using

8.43 At a nominal annual interest rate of 10% compounded monthly, how long (how many months) will it take to retire a $50,000 loan using equal monthly payments of $500 (with the payments made at the end of each month)?

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