Use the Information for the Question(s)below

question 61

Multiple Choice

Use the information for the question(s) below.
Two years ago,you purchased a new SUV.You financed your SUV for 60 months (with payments made at the end of the month) with a loan at 5.9% APR.You monthly payments are $617.16 and you have just made your 24th monthly payment on your SUV.
-The amount of your original loan is closest to:

• A)$14,808.
• B)$22,212.
• C)$32,000.
• D)$37,020.

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Definitions:

College Students

Individuals enrolled in an institution of higher education aiming to attain degrees or certificates.

Average Number

A central value of a numerical set, typically calculated as the sum of the values divided by the count of numbers.

Poisson Distribution

A probability distribution used to model the number of times an event occurs in a fixed interval of time or space, assuming events occur with a known constant mean rate and independently of the time since the last event.

Post Office

A public facility or institution responsible for handling mail services, including the collection, sorting, and delivery of letters and packages.