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I recently bought a new house for $200,000. There was a 20% down payment, and the rest was financed at 4.8 percent APR with monthly
"I recently bought a new house for $200,000. There was a 20% down payment, and the rest was financed at 4.8 percent APR with monthly compounding. Monthly payments starting from next month will be $1,248.66. How many years will it take the firm to pay off this debt?"
Please let me know values used in calculator or any formulas.
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