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How long will it take to pay off a loan of 55000 at an

(Annuity number of periods) How long will it take to pay off a loan of $55,000 at an annual rate of 8% 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 _ years. (Round to one decimal place.)

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Financial Management: How long will it take to pay off a loan of 55000 at an

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