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A pottery factory purchases a continuous belt conveyor kiln for $61,000. A 8.1% APR loan with monthly payments is taken out to purchase the kiln.

A pottery factory purchases a continuous belt conveyor kiln for $61,000. A 8.1% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $633.58, over what term is this loan being paid? A. 13 years B. 11 years C. 14 years D. 12 years

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