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Jon has a loan of $5448 to repay, with an interest rate of 8% compounded semiannually. Jon planned to make $192 payments at the
Jon has a loan of $5448 to repay, with an interest rate of 8% compounded semiannually. Jon planned to make $192 payments at the end of each month to repay his loan, but is considering only $139 per month. How many additional months will it take to repay the loan if he pays $139 per month instead of $192? (Hint: Round each term in months up to a whole number before finding the difference.) N1 = NO= Today $5448 Today $5448 $192 n months $192 $192 n months $139 $139 $139 a a
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