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(Annuity number of periods) How long will it take to pay off a loan of $48,000 at an annual rate of 8 percent compounded monthly

(Annuity number of periods) How long will it take to pay off a loan of $48,000 at an annual rate of 8 percent compounded monthly if you make monthly payments of $550? Use five decimal places for the monthly percentage rate in your calculations The number of years it takes to pay of the loan is 7 years. (Round to one decimal place.)

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