Question: How many years will it take to amortize a $200,000 loan at a nominal annual interest rate of 12% if monthly payments are $2,064.72? and

How many years will it take to amortize a $200,000 loan at a nominal annual interest rate of 12% if monthly payments are $2,064.72?

and What is the annual debt service on a $75,000 loan with monthly payments over 20 years at a nominal annual rate of 9%?

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