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9. Jane takes out a $100,000 loan at a nominal annual rate of 12% convertible monthly. Jane makes monthly interest-only payments for the first 3
9. Jane takes out a $100,000 loan at a nominal annual rate of 12% convertible monthly. Jane makes monthly interest-only payments for the first 3 years, and then she pays $1500 per month until the loan is paid off. How many total payments does Jane make, including the final smaller payment?
A. 110
B. 111
C. 142
D. 146
E. 147
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