Question: A fully amortizing mortgage is made for $ 1 1 2 , 0 0 0 at 6 . 5 percent interest. Required: If the monthly

A fully amortizing mortgage is made for $112,000 at 6.5 percent interest.
Required:
If the monthly payments are $1,060 per month, when will the loan be repaid? (Round up your answer to the nearest whole number.)

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