FIN330-701 (Fa21): PRINCIPLES OF FINANCE Homework: HW 6 Annuity and Perpetuity Question 1, P6-13 (simila < Ryan Luckett | 10/01/21 10:48 PM HW Score: 0%, 0 of 12 points O Points: 0 of 1 Save (Annuity number of periods) How long will it take to pay off a loan of $47,000 at an annual rate of 9 percent compounded monthly if you make monthly payments of $500? Use five decimal places for the monthly percentage rate in your calculations. The number of years it takes to pay off the loan is years (Round to one decimal place.) Help Me Solve This View an Example Get More Help - Clear All Check Answer