The Following Four Different Financing Schemes Have Been Offered to You

question 37

Multiple Choice

The following four different financing schemes have been offered to you for the purchase of a $30,000 car.Which one should you choose?

• A)$5,000 down with the balance paid in equal monthly payments of $624.70 per month for 48 months
• B)$0 down with equal monthly payments of $960 per month for 36 months
• C)$15,000 down and a final payment of $18,550 two years from now
• D)have it financed with a bank loan at a quoted rate of 9.75% with loan repayments made monthly

---

Definitions:

Qualifiers

Words or phrases used to add nuance, limit, or modify the strength of a statement, such as "probably," "mostly," or "in most cases."

Critical Thinking

The intellectual discipline of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and evaluating information to reach an answer or conclusion.

Grammatical Structure

The system and order of words in a sentence that follow specific rules in a language, determining its meaning and interpretation.

Hard Problems

Complex issues or challenges that are difficult to solve due to their intricate nature, often requiring innovative thinking and approaches.