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You are in financial trouble and are delinquent on your mortgage payment. Your bank has agreed to a repayment schedule of $1, 600 per month, and it will charge 0.5% per month interest on the outstanding balance. If the current outstanding balance is $250,000, how long will it take for you to pay off the loan?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92405938

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