an annual rate

plan to deposit
June 28, 2019
The state​ lottery’s million-dollar payout
June 28, 2019

How long will it take to pay off a loan of ​$51,000 at an annual rate of 9 percent compounded monthly if you make monthly payments of ​$750​? 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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