Kevin borrowed $6,500 at 6.4% compounded monthly to help finance his education. He contracted to...
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Kevin borrowed $6,500 at 6.4% compounded monthly to help finance his education. He contracted to repay the loan in monthly payments of $300 each. If the payments are due at the end of each month and the payments are deferred for four years, for how long will Kevin have to make monthly payments? Show your work for this question.
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