Mathematics, 28.04.2021 18:20 addisonborden

Ellen has a balance of $15,000 on her car loan and an interest rate of 2.75%. To pay off the $15,000 in five years, Ellen will have to make a minimum payment of $267.87. If Ellen pays $434.57 per month she can pay off her auto loan in 3 years instead. How much more will Ellen pay if she takes 5 years to pay off her loan instead of 3 years?

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Ellen has a balance of $15,000 on her car loan and an interest rate of 2.75%. To pay off the $15,000...

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