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An $82,000 business can be purchased by making a down payment of $12,000 and financing the balance with a short-term business loan at 4.50% compounded
An $82,000 business can be purchased by making a down payment of $12,000 and financing the balance with a short-term business loan at 4.50% compounded monthly with monthly payments of $1,675. How long will it take to pay off the loan year(s) + month(s) Round up to the next payment period. Give your answer in years and months
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