Overnight Trucking recently purchased a new truck costing $219,800. The firm financed this purchase at 6.6 percent interest with monthly payments of $2,435. How many years will it take the firm to pay off this debt?
a. 11.04 years
b. 9.22 years
c. 11.60 years
d. 10.23 years
e. 10.42 years
Ans: e. 10.42 years
Business
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