Kurt Has $4,500 for a Down Payment and Thinks He

question 34

Multiple Choice

Kurt has $4,500 for a down payment and thinks he can afford monthly payments of $300.If Kurt can finance a vehicle with a 7 percent,4-year loan from the automobile dealer,what is the maximum amount he can afford to spend on the car? (Round off the answer to nearest units place.)

• A)$12,528
• B)$14,400
• C)$16,028
• D)$17,028
• E)$18,028

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Definitions:

Behavior Sciences

An interdisciplinary field that studies human actions and interactions through the lenses of psychology, sociology, and anthropology.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or the community.

Competitive Advantage

The attribute that allows an organization to outperform its competitors, often achieved through offering superior value to customers.

Behavioral Sciences

Encompass a range of disciplines, including psychology, sociology, and anthropology, that explore the activities and interactions among human beings.