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

question 55

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 percent,3-year loan from a local bank,what is the maximum amount Henry can spend on the car? (Round the answer to the nearest units place.)

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

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Definitions:

Tarsals

A group of seven bones in the foot situated between the lower leg bones and the metatarsals, contributing to foot's structure and movement.

Tibia

The larger and stronger of the two bones in the lower leg, responsible for supporting the majority of the body's weight.

Patella

The patella, commonly known as the kneecap, is a small bone located in front of the knee joint, within the tendon of the quadriceps muscle, and it protects the knee joint.

Frontal

Pertaining to the forehead or the anterior part of the brain.