What is the term of a mortgage of repaid by monthly payments

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Reference no: EM132892192

Problem 1: What is the term of a mortgage of $235 000.00 repaid by monthly payments of $2475.00 if interest is 7.55% compounded monthly?

Option 1: 146 Months

Option 2: 150 Months

Option 3: 142 Months

Option 4: 144 Months

Option 5: 148 Months

Reference no: EM132892192

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