The Jepsens Are Buying a $23,400 Car and Financing It

question 240

Multiple Choice

The Jepsens are buying a $23,400 car and financing it over the next 4 years.They secure an 8.6% loan. What will their monthly payments be?

• A)$564.51
• B)$607.53
• C)$582.35
• D)$577.88

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Definitions:

Consumer Product Safety Commission

A U.S. federal agency responsible for regulating the sale and manufacture of consumer products to ensure they do not pose any unreasonable risk of injury or death to consumers.

Legal Positivism

A theory of law that holds that laws are rules made by human beings and that there is no inherent or necessary connection between law and morality.

Natural Law

A philosophical belief that certain rights or values are inherent by virtue of human nature and can be universally understood through human reason.

Morally Correct

Acting in accordance with what is considered right and good behavior based on ethical principles.