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A pottery factory purchases a continuous belt conveyor kiln for $68,000. A6.4% APR loan with monthly payments is taken out to purchase the kiln. If

A pottery factory purchases a continuous belt conveyor kiln for $68,000.

A6.4%

APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are$643.17,

over what term is this loan being paid?

A.

12

years

B.

13

years

C.

11

years

D.

14

years

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