Question: What is the term for a fully amortized loan with monthly payments of $602.75, an interest rate of 5.0% and an initial balance of $125,000?

What is the term for a fully amortized loan with monthly payments of $602.75, an interest rate of 5.0% and an initial balance of $125,000?

Question options:

A. 240 months

B. 300 months

C. 480 months

D. 360 months

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