How Many Years Will It Take Jorge To Pay Off The Loan?

 To determine how many years it will take Jorge to pay off the loan, we need to know the loan amount, the interest rate, and the monthly payment amount. With this information, we can use the formula for calculating the loan term (time):

Time=log(×)log(1+)

Where:

  • is the loan principal (amount borrowed).
  • is the monthly payment amount.
  • is the monthly interest rate (annual interest rate divided by 12).

Without these details, I can't provide the exact number of years it will take Jorge to pay off the loan. If you provide the loan amount, the interest rate, and the monthly payment amount, I can calculate the loan term for you. Alternatively, you can use the formula provided above to calculate it yourself

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