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A pottery factory purchases a continuous belt conveyor kiln for $46,000. A 8.8% APR loan with monthly payments is taken out to purchase the kiln.
A pottery factory purchases a continuous belt conveyor kiln for $46,000. A 8.8% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $577.73, over what term is this loan being paid? A. 9 years B. 11 years C. 8 years D. 10 years
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