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How many payments total will it take to pay off the

Consider a mortgage of 108,000 charging annual nominal interest of 6%, compounded monthly.

Interest only payments are made for 5 years, and then monthly payments of 823 are made until the loan is paid off.

How many payments total will it take to pay off the loan?

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Financial Management: How many payments total will it take to pay off the

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Financial Management: How many payments total will it take to pay off the

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