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A pottery factory purchases a continuous belt conveyor kiln for $70,000. A 8.9% 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 $70,000. A 8.9% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $705.85, over what term is this loan being paid? A. 15 years B. 13 years c. 16 years D. 14 years

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