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You took out some student loans in college and now owe $ 1 2 , 0 0 0 . You consolidated the loans into one

You took out some student loans in college and now owe $

12, 000 .

You consolidated the loans into one amortizing loan, which has an annual interest rate of

3 % (

APR

) .

If you make monthly payments of $

200,

how many months will it take to pay off the loan? Fractional values are acceptable.

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