Jeremy Is in the Process of Purchasing a Car

question 77

Multiple Choice

Jeremy is in the process of purchasing a car.The list price of the car is $32,000.If Jeremy pays cash for the car, the dealer will reduce the price by 10%.Otherwise, the dealer will provide financing where Jeremy must pay $6,850 at the end of each of the next five years.Compute the effective interest rate to the nearest percent that Jeremy would pay if he chooses to make the five annual payments?

• A)5%.
• B)6%.
• C)7%.
• D)8%.

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Definitions:

Interventions

Actions or strategies implemented to bring about change in behavior, health, or social conditions.

Protocols

Established procedures or systems of rules designed to guide the implementation of certain actions or operations.

Clinician

A healthcare professional involved in the diagnosis and treatment of patients.

Health Care Problems

Any conditions or dysfunctions that the patient experiences as a result of illness or treatment of an illness.