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A pottery factory purchases a continuous belt conveyor kiln for $48,000. A 6.9% APR loan with monthly payments is taken out to purchase the kiln.

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A pottery factory purchases a continuous belt conveyor kiln for $48,000. A 6.9% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $519.92, over what term is this loan being paid? A. 11 years B. 9 years C. 10 years D. 12 years

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