Solve the Problem. -Suppose You Purchase a New Car for $27,200. What Are

question 342

Multiple Choice

Solve the problem.
-Suppose you purchase a new car for $27,200. What are the monthly payments for a 4-year loan with a $2,000 down payment if the annual interest rate is 4.5%?

• A) $689.58
• B) $459.72
• C) $574.65
• D) $804.51

---

Definitions:

Decrease Of

Refers to the reduction in the amount, quantity, or extent of something.

Percent Less

A term used to indicate a reduction or discount applied to a price or value, expressed as a percentage of the original amount.

Percent More

A comparative measure indicating how much higher one quantity is than another, expressed as a percentage.

Percent Change

The measure of the degree of change of a quantity, expressed as a percentage.