Pre-Calc question. Don't have a graphing calculator though.

Mortgage Payment Problem: People who buy houses usually get a loan to pay for most of the house and pay on the resulting mortgage each month. Suppose you get a $50,000 loan and it back at $550.34 permonth with an interest rate of 12% per year (1% per month). your balance, B dollars, after n monthly payments is given by the algebraic equation

B=50,000(1.01^n)+550.34/0.01(1-1.01^n)

How many months will it take you to pay off the entire mortgage? Show how you get your answer.

Question

Pre-Calc question. Don't have a graphing calculator though. 

Mortgage Payment Problem: People who buy houses usually get a loan to pay for most of the house and pay on the resulting mortgage each month. Suppose you get a $50,000 loan and it back at $550.34 permonth with an interest rate of 12% per year (1% per month). your balance, B dollars, after n monthly payments is given by the algebraic equation 

B=50,000(1.01^n)+550.34/0.01(1-1.01^n)

How many months will it take you to pay off the entire mortgage? Show how you get your answer.