Problem
You took out a new car loan for exist4,000. The monthly payment is exist71.88 and the interest rate is 3 % per year (0.25%/month) for 60 months. You decided you can afford to pay an additional exist280 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.)
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.