Henry Has $2,500 for a Down Payment and Thinks He

question 33

Multiple Choice

Henry has $2,500 for a down payment and thinks he can afford monthly payments of $400. If he can finance a vehicle with an 8%, 3-year loan from a local bank, what is the maximum amount Henry can spend on the car? (Round the answer to the nearest dollar.)

• A) $12,765
• B) $14,400
• C) $14,079
• D) $15,265
• E) $16,879

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Definitions:

Expressive Aphasia

A language disorder caused by damage to the brain that affects a person's ability to produce coherent speech and language.

Prosopagnosia

A specific inability to recognize faces, even very familiar ones, with intact recognition of other objects.

Arbitrariness

The lack of any necessary or natural relationship between a sign's physical form and its meaning.

Discreteness

The characteristic of data or systems that have distinct, separate values or components.