How many payments will the load be paid off

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Reference no: EM131778268

Question: You took out a new car loan for $4,000. The monthly payment is $71.88 and the interest rate is 3 % per year (0.25%/month) for 60 months. You decided you can afford to pay an additional $280 each month along with the regular monthly payment. After how many payments (months) will the load be paid off? (Enter your answer as a number without the units.)

Reference no: EM131778268

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