Ron's Loan: Ron borrows $3,000,000 to purchase a warehouse. The annual interest rate on the loan is 8.25 percent, and the term of the loan is 15 years.

Suppose Ron refinances the loan at the end of month 48 at the then prevailing interest rate of 8%. Rather than reducing his monthly payment, however, Ron decides to continue making the same monthly payments. How many months must Ron continue to make the payments on this new loan? (Round your answer to two decimal places. For example, if you think the answer is 34.578 months, enter 34.58.)

Hint: use the NPER function in Excel