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

question 71

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 union, what is the maximum loan amount Jana can afford? (Round the answer to the nearest dollar.)

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

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Definitions:

Sociological Perspective

An approach to understanding human behavior by placing it within its broader social context, examining how society influences people's attitudes, actions, and opportunities.

Prejudice

Preconceived opinions or judgments about people or groups without sufficient knowledge, often based on stereotypes.

Social Security

A government program that provides financial assistance to people with insufficient or no income, especially the elderly, disabled, and families with dependent children.

Culture

The set of shared attitudes, values, goals, and practices that characterizes an institution, organization, or group; or the broader social context of these practices.