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Homework answers / question archive / You owe $30,000 and want to pay it off at $500 per month

You owe $30,000 and want to pay it off at $500 per month

Finance

You owe $30,000 and want to pay it off at $500 per month. If the interest rate on the loan is 6% per year, compounded monthly, how long will it take you to pay off the loan? 

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