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A pottery factory purchases a continuous belt conveyor kiln for $64,000. A 8.1% 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 $64,000. A 8.1\% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $779.88, over what term is this loan being paid? A. 10 years B. 11 years C. 9 years D. 8 years

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