Justin Chan Bought a Scion Car for a Price of $8,200

question 40

Multiple Choice

Justin Chan bought a Scion car for a price of $8,200, putting down $800 and financing the remainder with 60 monthly payments of $179.99. The APR is:

• A) Close to 15%
• B) Close to 14%
• C) Close to 13 ½%
• D) Between 16.00 and 16.25%
• E) None of these

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Definitions:

Rational Beings

Individuals who are capable of making decisions based on reason and logic rather than on emotion alone.

Rewarded Behaviors

Actions that are encouraged or reinforced through positive outcomes or rewards.

Self-actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Hierarchical Organization

A system or organization where entities are ranked one above the other according to authority or status.