![]() ![]() In other words, you’d finish the auto loan 12 months early. This gives us 24, which is the number of months it would take to pay off $8,000 with your payment amount. Then, divide this $8,000 by your monthly payment amount of $333. You’d subtract that from the remaining balance of $12,000 to get $8,000. Now, say you want to pay an extra $4,000 this month. ![]()
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