The table shows a schedule of Igor’s payment plan for a used car.


Igorr’s Payment Plan for the First Three Years
Year
Balance
Monthly Payment
End of Year
Balance
1

$245.33

2

$245.33
$8,831.88
3

$245.33


How much is Igor’s total closed-end credit for the car?
$11,775.84
$14,719.80
$23,551.68
$26,495.64