Final answer:
Jack's car will have depreciated by $11,000 after 60 months, given an annual depreciation of $2,200. The remaining value would be $6,600, however, that option is not available in the choices provided, indicating a potential error in the question.
Step-by-step explanation:
To calculate the value of Jack's car when his auto loan is paid off, we have to determine the rate of depreciation of the car over time. Since the car depreciates in a straight line to zero value over 8 years, we can calculate the annual depreciation and then determine the value of the car after 60 months (5 years).
The annual depreciation is the initial value of the car divided by the number of years it takes to depreciate to zero:
Annual depreciation = $17,600 / 8 years = $2,200 per year.
After 5 years, the total depreciation is:
Total depreciation = $2,200 per year * 5 years = $11,000.
Finally, the value of the car after 60 months when the loan is paid off is:
Value after 60 months = Initial value - Total depreciation
Value after 60 months = $17,600 - $11,000 = $6,600.
Since $6,600 is not one of the offered answer choices, it seems there may be an error in the question or in the initial assumptions — the provided options do not include the correct value. If a choice must be made from the options given, $6,600 would be rounded to the nearest option, which is $6,600, not listed.