Sloane Owes $2,600 on Her Car Loan

question 37

Multiple Choice

Sloane owes $2,600 on her car loan.According to Edmond's Used Car Prices,her car is valued at $1,950.The term used to refer to this situation is:

• A)residual value.
• B)pre-approval.
• C)capitalized cost.
• D)negative equity.
• E)money factor.

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Definitions:

Traditional Branches

The main, long-established divisions or categories within a particular field or profession, often referring to fields like government, education, or science.

Orders

A command or directive given by someone in authority.

Administrative Agencies

Government bodies responsible for implementing and enforcing specific statutes and regulations at the federal, state, or local level.

Interpretive Rules

Interpretive Rules are administrative agency statements that clarify or interpret existing statutes or regulations but do not have the force of law.