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Walter wants to borrow $ 1 2 , 0 0 0 . 0 0 from the bank and is choosing among two possible loans. The
Walter wants to borrow $ from the bank and is choosing among two possible loans. The interest rate on both loans is percent per month. Loan A would require him to make equal monthly payments, with the first payment made to the bank in month. Loan B would also require him to make equal monthly payments to the bank. However, the monthly payment associated with loan B would be $ less than the monthly payment associated with loan A and the first monthly payment for loan B would be made to the bank later today. How many monthly payments to the bank must be made with loan B
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