You Are Buying a Previously Owned Car Today at a Price

question 97

Multiple Choice

You are buying a previously owned car today at a price of $3,500.You are paying $300 down in cash and financing the balance for 36 months at 8.5 percent.What is the amount of each loan payment?

• A)$101.02
• B)$112.23
• C)$118.47
• D)$121.60
• E)$124.40

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Definitions:

Paranoid Thinking

A thought process heavily influenced by anxiety or fear, often to the point of irrational suspicion and mistrust of others.

Schizophrenia

A chronic and severe mental disorder affecting how a person thinks, feels, and behaves, often characterized by hallucinations, delusions, and disordered thinking.

Paranoia

A mental condition characterized by delusions of persecution, unwarranted jealousy, or exaggerated self-importance.

Schizophrenia

A mental disorder characterized by disturbances in thought, perception, and behavior, affecting how a person feels, thinks, and behaves.