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Joe Smith has $130,000 in student loans. His bank charges 5% APR (compounded monthly). Suppose Joe can only afford to pay $700 per month towards

Joe Smith has $130,000 in student loans. His bank charges 5% APR (compounded monthly). Suppose Joe can only afford to pay $700 per month towards his student loans, calculate the number of months it will take to pay off his student loans.

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