How long will it take you to pay the loan
Problem
Suppose you have borrowed $520,000 as a mortgage loan on your house. The interest rate is 6.5%. The bank has calculated the monthly payment to be $3,286.75. How long will it take you to pay the loan?
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Suppose you have borrowed $520,000 as a mortgage loan on your house. The interest rate is 6.5%. How long will it take you to pay the loan?
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