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How long will it take to pay off a loan of $54,000 at an annual rate of 8 percent compounded monthly if you make monthly

How long will it take to pay off a loan of

$54,000

at an annual rate of

percent compounded monthly if you make monthly payments of

800?

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.)

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