If a Person Is Going to Pay $500 Per Month

question 60

Multiple Choice

If a person is going to pay $500 per month every month for 5 years, what do you know about their car loan (if the interest rate is positive) ?

• A)Nothing.
• B)The loan amount was more than $30,000.
• C)The loan amount was exactly $30,000.
• D)The loan amount was less than $30,000.

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Definitions:

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