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How many years would it be until the loan is paid off

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If no payments are made, a loan of amount $44000 would increase to $49103.89 after 2 years of monthly compounding interest. If instead, payments of $718.87 are made at the end of each month, how many years would it be until the loan is paid off? Answer rounded to the nearest integer (Number of years).

Reference no: EM132145580

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