Solve the Problem. -The James Family Wants to Save Some Money in Interest

question 17

Multiple Choice

Solve the problem.
-The James family wants to save some money in interest by paying off their auto loan 12 months early. The 36-month loan required payments of $455 per month. The car cost $18,600 with a down payment of $6000. How much unearned interest did they save?

• A)$468.00
• B)$1,702.70
• C)$1,486.84
• D)$442.70

---

Definitions:

Cognitive Declines

The reduction in mental abilities such as memory, attention, and decision-making that may occur with aging or neurological conditions.

Functional Declines

A decrease in physical, emotional, or cognitive abilities, often related to aging or chronic illnesses.

Mortality Revolution

A significant reduction in mortality rates, leading to an increase in life expectancy, often attributed to improvements in public health and medicine.

Mourning Customs

The practices and rituals that different cultures engage in to remember and honor the deceased, reflecting varied beliefs about death and the afterlife.