Question

You have some extra cash this month and you are considering putting it toward your car...

You have some extra cash this month and you are considering putting it toward your car loan. Your interest rate is

7.2%​,

your loan payments are

$671

per​ month, and you have

36

months left on your loan. If you pay an additional

$1,300

with your next regular

$671

payment​ (due in one​ month), how much will it reduce the amount of time left to pay off your​ loan? ​(Note: Be careful not to round any intermediate steps less than 6 decimal​ places.)

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