Homework answers / question archive / (Annuity number of? periods) How long will it take to pay off a loan of $48,000 at an annual rate of 12 percent compounded monthly if you make monthly payments of $550?? Use five decimal places for the monthly percentage rate in your calculations

(Annuity number of? periods) How long will it take to pay off a loan of $48,000 at an annual rate of 12 percent compounded monthly if you make monthly payments of $550?? Use five decimal places for the monthly percentage rate in your calculations

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(Annuity number of? periods) How long will it take to pay off a loan of $48,000 at an annual rate of 12 percent compounded monthly if you make monthly payments of $550??

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

The number of years it takes to pay off the loan is nothing years.  ?(Round to one decimal? place.)