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Problem #2: If no payments are made, a loan of amount $47000 would increase to $55786.63 after 2 years of monthly compounding interest. If instead,
Problem #2: If no payments are made, a loan of amount $47000 would increase to $55786.63 after 2 years of monthly compounding interest. If instead, payments of $626.60 are made at the end of each month, how many years would it be until the loan is paid off? Problem #2: Answer rounded to the nearest integer number of years. Just Save Submit Problem #2 for Grading
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