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Ben Patel has a 5-year, 5.6% loan on his car. The current loan balance is $12,500 with monthly payments of $293.49. He can now afford

Ben Patel has a 5-year, 5.6% loan on his car. The current loan balance is $12,500 with monthly payments of $293.49. He can now afford a $475 monthly payment. How long would it take him to pay off the loan by making a $475 monthly payment?

  • 24.9 months

  • 24.8 months

  • 28 months

  • 28.1 months

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