Juanita Arranged for a Car Loan of $11,200

question 49

Multiple Choice

Juanita arranged for a car loan of $11,200. If her monthly payments are $560, how many months will it take her to pay off the loan?

• A)80 months
• B)20 months
• C)70 months
• D)200 months

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Definitions:

Active Portfolio Managers

Investment professionals who actively make decisions to buy, sell, or hold assets in order to beat the market average or achieve specific investment objectives.

Beat the Market

Achieving investment returns that surpass benchmark or average returns of the financial markets.

Interest Rate

The expense associated with lending funds or the profit gained from investments, usually represented as a percentage.

Interest Rate

The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets over a period.