Jana Has $1,500 for a Down Payment and Thinks She

question 17

Multiple Choice

Jana has $1,500 for a down payment and thinks she can afford monthly payments of $300. If she can finance a vehicle with a 7%, 4-year loan from a credit society, what is the maximum loan amount Jana can afford? (Round to the nearest dollar.)

• A)$12,528
• B)$14,208
• C)$16,028
• D)$17,900
• E)$18,028

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