Chase Purchased a $30,000 Car Three Years Ago Using a 10

question 69

Multiple Choice

Chase purchased a $30,000 car three years ago using a 10 percent, 5-year car loan. He has decided that he would sell the car now if he could get a price that would pay off the balance of his loan. What is the minimum price Chase would need to receive for his car? (Assume monthly payments.)

• A) $12,000.00
• B) $13,813.25
• C) $21,500.75
• D) $23,739.05

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