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A pottery factory purchases a continuous belt conveyor kiln for $68,000. A 8.7% APR loan with monthly payments is taken out to purchase the kiln.

A pottery factory purchases a continuous belt conveyor kiln for $68,000. A 8.7% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $802.11, over what term is this loan being paid?

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