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

question 148

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%,3-year loan,what is the maximum amount Henry can spend on the car?

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

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Definitions:

Pavlov

A Russian physiologist known for his discovery of classical conditioning during his experiments on the digestive systems of dogs.

Nobel Prize

An international recognition awarded annually in several categories such as Physics, Chemistry, Medicine, Literature, Peace, and Economic Sciences, for outstanding contributions in these fields.

Salivation

The secretion of saliva from the salivary glands in the mouth, which is often a response to the presence or thought of food, aiding in digestion.

Conditioned Response

A learned response to a previously neutral stimulus that has become conditioned through association.