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A mortgage of $ 2 5 , 9 4 1 . 0 0 is to be repaid by making payments of $ 1 4 6

A mortgage of $25,941.00 is to be repaid by making payments of $1465.00 at the end of each month. If interest is
5% compounded monthly, what is the term of the mortgage? State your answer in years and months (from 0 to
11 months).
The term is year(s) and month(s).
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