The table shows a schedule of Jorge’s payment plan for a car. Jorge’s Payment PlanYearBalanceMonthly PaymentEnd of YearBalance1$15,469.80$257.83 2 $257.83 3 $257.83 4 $257.83 5 $257.83 6 $257.83 How many years will it take Jorge to pay off the loan?

Jorge pays $257.83 each month, so in one year he pays $257.83 × 12 = $3,093.96. The loan balance of $15,469.80 equals five years of payments: $3,093.96 × 5 = $15,469.80. Therefore, it will take him 5 years to pay off the loan.

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