A car loan for $$33,500$ has an interest rate of $7\mathrm{.}25\%$ and is amortized over $60$ months.

What is the monthly payment on the loan?

a$.$ $$425\mathrm{.}78$

b$.$ $$577\mathrm{.}69$

c$.$ $$636\mathrm{.}98$

d$.$ $$667\mathrm{.}30$

Using the same facts as #$16,$ what is the balance of the loan after $3$ full

years of payments?

a$.$ $$14,866$

b$.$ $$8\mathrm{.}299\mathrm{.}28$

c$.$ $$6,632$

d$.$ Zero

loan?.

Using the same facts as #$16,$ how long would it take to pay off $60\%$ of the

a$.$ About $45$ months

b$.$ About $50$ months

c$.$ About $31$ months

d$.$ About $38$ months