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A mortgage of $106,000 is to be repaid by making payments of $1154 at the end of each month. If interest is 3.08% per

A mortgage of $106,000 is to be repaid by making payments of $1154 at the end of each month. If interest is 3.08% per annum compounded annually, what is the term of the mortgage? State your answer in years and months (from 0 to 11 months). The term of the mortgage is | year(s) and month(s).

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