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You have some extra cash this month and you are considering putting it toward your car loan. Your interest rate s 7.3%, your loan payments
You have some extra cash this month and you are considering putting it toward your car loan. Your interest rate s 7.3%, your loan payments are $643 per month, and you have 36 months left on your loa you pay an additional $1,400 with your next regular $643 payment (due in one month), how much will it reduce the amount of time left to pay off your loan? (Note: Be careful not to round any intermediate stops loss than 6 decimal places.) The new time left to pay off your loan wil be months. (Round to one decimal place.) Thus, you reduce the amount of time remaining on the loan by approximatelymonths. (Round to one decimal place.)
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