Question 21 • 2027 Ignite Financial Literacy-Personal Finance - EL3403
After the third payment and interest, the balance is $515.70 + $6.19 = $521.89. Each month, subtract the $100 payment and then add 1.2% interest; after five more months, the balance is still about $35.67. A sixth payment will clear it, so the correct choice is 6 payments.
AI-written and checked against the verified answer.