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You have just borrowed $40,000 from the Satisfaction Auto Corp. to purchase a new car. You will be making monthly payments of $ 750. Your

You have just borrowed $40,000 from the Satisfaction Auto Corp. to purchase a new car. You will be making monthly payments of $ 750. Your interest rate is 6 percent compounded monthly. How many months will it take you to pay off the loan?

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62.19 Months

64.47 Months

53.33 Months

63.87 Months

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