After how many payments will the load be paid off

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Reference no: EM131575639

You took out a new car loan for exist16,000. The monthly payment is exist287.5 and the interest rate is 3% per year (0.25%/month) for 60 months. You decided you can afford to pay an additional exist110 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.)

Reference no: EM131575639

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