ingas payment plan for the first 3 years\nyear\tbalance\tmonthly payment\tend of year balance\n1\t$19,691.28\…

ingas payment plan for the first 3 years\nyear\tbalance\tmonthly payment\tend of year balance\n1\t$19,691.28\t$273.49\t$16,409.40\n2\t$16,409.40\t$273.49\t$13,127.52\n3\t$13,127.52\t$273.49\t$9,845.64\nhow many more years will it take inga to pay off the loan?\no 2 years.\no 3 years\no 4 years\no 6 years

ingas payment plan for the first 3 years\nyear\tbalance\tmonthly payment\tend of year balance\n1\t$19,691.28\t$273.49\t$16,409.40\n2\t$16,409.40\t$273.49\t$13,127.52\n3\t$13,127.52\t$273.49\t$9,845.64\nhow many more years will it take inga to pay off the loan?\no 2 years.\no 3 years\no 4 years\no 6 years

Answer

Answer:

3 years

Explanation:

Step1: Calculate annual payment

Monthly payment is $273.49, so annual payment is $273.49×12 = $3281.88.

Step2: Determine remaining years

End - of - year 3 balance is $9845.64. Divide by annual payment: $\frac{9845.64}{3281.88}=3$. So it will take 3 more years to pay off the loan.