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Karmen borrowed $6976.00 compounded monthly to help finance her education. She contracted to repay the loan in payments of $257.00 each. If the payments are

Karmen borrowed $6976.00 compounded monthly to help finance her education. She contracted to repay the loan in payments of $257.00 each. If the payments are due at the end of each month and interest is 8% compounded month! will Karmen have to make monthly payments? State your answer in years and months (from 0 to 11 months)

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