Problem #2: If no payments are made, a loan of amount $47000 would increase to $55786.63 after 2 years of monthly compou

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Problem 2 If No Payments Are Made A Loan Of Amount 47000 Would Increase To 55786 63 After 2 Years Of Monthly Compou 1 (27.07 KiB) Viewed 48 times

Problem #2: If no payments are made, a loan of amount $47000 would increase to $55786.63 after 2 years of monthly compounding interest. If instead, payments of $626.60 are made at the end of each month, how many years would it be until the loan is paid off? Problem #2: Answer rounded to the nearest integer number of years. Just Save Submit Problem #2 for Grading