How long will it take to pay off the loan, Microeconomics

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How long will it take to pay off the loan

Problem

Using a credit card, Tim Settles has just purchased a stereo system for $975. If he makes payments of $45 per month and the interest rate is 18% compounded monthly, how long will it take to pay off the loan?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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