You bought a car 4 years ago, taking out a $13,000 loan at a 4% interest rate for 5 years. Your monthly payments are $239.42 . A. How much will still be owed after making payments for 4 years?

1. I will still owe after making payments for 4 years.

B. If the car's value is now $6,500 then how much equity do you have after making payments for 4 years?

1. I will have in equity after making payments for 4 years.