The table shows a schedule of Jorge’s payment plan for a car. Jorge’s Payment PlanYearBalanceMonthly PaymentEnd of YearBalance1$15,469.80$257.83 2 $257.83 3 $257.83 4 $257.83 5 $257.83 6 $257.83 How many years will it take Jorge to pay off the loan?

Question

Revolt · Accepted Answer

5 years

The Cost of Credit

The table shows a schedule of Jorge’s payment plan for a car. Jorge’s Payment PlanYearBalanceMonthly PaymentEnd of YearBalance1$15,469.80$257.83 2 $257.83 3 $257.83 4 $257.83 5 $257.83 6 $257.83 How many years will it take Jorge to pay off the loan?

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