You Are Borrowing $5,200 at 7

question 41

Multiple Choice

You are borrowing $5,200 at 7.8 percent,compounded monthly.The monthly loan payment is $141.88.How many loan payments must you make before the loan is paid in full?

• A)30
• B)36
• C)40
• D)42
• E)48

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Definitions:

Easy Tasks

Activities or jobs that can be completed with minimal effort or difficulty.

Internal Push

An internal motivation or drive that compels an individual to take action or pursue goals.

External Pull

Influences or factors outside an individual that draw or entice them towards certain decisions, actions, or behaviors.

Incentive

Something that motivates or encourages someone to do something or increases the likelihood of a behavior.