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If no payments are made, a loan of amount $34000 would increase to $38706.58 after 2 years of monthly compounding interest. If instead, payments of
If no payments are made, a loan of amount $34000 would increase to $38706.58 after 2 years of monthly compounding interest. If instead, payments of $455.13 are made at the end of each month, how many years would it be until the loan is paid off? |
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