dorriesmith5110 dorriesmith5110

23-01-2024
Mathematics

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Madison is looking to take out a mortgage for $280,000 from a bank offering an annual interest rate of 5.7%, compounded monthly. If Madison makes monthly payments of $2,950, determine how long it will take her to pay off the loan, to the nearest month.

a. 120 months
b. 96 months
c. 84 months
d. 72 months

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