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    How long will it take to pay off a loan of ​$48,000 at an annual rate...

 

  How long will it take to pay off a loan of ​$48,000

at an annual rate of

9 percent compounded monthly if you make monthly payments of

​$450​?

Use five decimal places for the monthly percentage rate in your calculations.

The number of years it takes to pay off the loan is

y

  

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