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Chet just bought an $80,000 BMW and now has regular annual payments of $8,000 per year starting one year from now. Assuming an interest

Chet just bought an $80,000 BMW and now has regular annual payments of $8,000 per year starting one year from now. Assuming an interest rate of 5%, how long will it take for Chet to pay off the car? Choose the closest. 10.15 Years 14.21 Years 15.73 Years 7.15 Years

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