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Javier borrows $50,000 from a local bank at an APR of 8.4%, compounded monthly. His monthly payments amount to $50,000(AIP, 0.7%, 59-$1,037.39 for a 59-month

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Javier borrows $50,000 from a local bank at an APR of 8.4%, compounded monthly. His monthly payments amount to $50,000(AIP, 0.7%, 59-$1,037.39 for a 59-month loan. If Javier makes an extra payment on the first month of each year, his repayment duration for the loan will be reduced to how many months

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