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(Annuity number of​ periods) Alex Karev has taken out a ​$180,000
loan with an annual rate of
11
percent compounded monthly to pay off hospital bills from his wife​ Izzy's illness. If the most Alex can afford to pay is
​$3,500
per​ month, how long will it take to pay off the​ loan? How long will it take for him to pay off the loan if he can pay
​$4,000
per​ month? Use five decimal places for the monthly percentage rate in your calculations.

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