Question

You make $15 payment on your loan of $500 at the end of each month.

what would the first abs second month be

Answer 1

2.8 years or 33.6 months.

Explanation:

I am not sure what your questions is, but I assume it is how long it will take to pay it off?

In a year (15*12,) you would have paid $180 of it. x = 500/180

Therefore, it will take you approximately 2.8 years to pay off your loan, excluding interest, of course, since you did not provide that rate.