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How long will it take to settle the loan

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Question - Lush Gardens Co. bought a new truck for $64,000. It paid $6,400 of this amount as a down payment and financed the balance at 5.25% compounded semi-annually. If the company makes payments of $1,700 at the end of every month, how long will it take to settle the loan?

Reference no: EM133146089

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