Question: Drew wants to purchase a basic food cart. He will need $6200 and has saved up $1500. Drew finds a sympathetic teller at his credit

Drew wants to purchase a basic food cart. He will need $6200 and has saved up $1500. Drew finds a sympathetic teller at his credit union who is willing to give him a used car loan to pay for the remaining cost (after he puts down his $1500) of the food cart. The loan has an annual interest rate of 5.27% compounded monthly and must be paid off in 3 years. if Drew makes payments of $200 per month, he can pay off his loan early. How many months would it take Drew to pay off his loan if he makes the larger payments? What would the final payment be? How much would he pay in total? I (Ctrl)

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