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Syarikat MEKAR Sdn. Bhd. applies for a RM150,000 loan to build a new factory. Interest on the loan is 9% per annum compounded monthly.

Syarikat MEKAR Sdn. Bhd. applies for a RM150,000 loan to build a new factory. Interest on the loan is 9% per annum compounded monthly. If the company can afford to pay RM2500 a month, calculate how long it takes to pay off the loan.

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