Use the Information for the Question(s) Below

question 67

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. Your monthly payments are $617.16 and you have just made your 24th monthly payment on your SUV.
-Amortizing loans are the loans that have monthly payments and are quoted in terms of ________ with ________ compounding.

• A) an effective rate; annual
• B) an equivalent rate; annual
• C) an annual percentage rate; monthly
• D) a nominal rate; semiannual

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Definitions:

Relationships

The way in which two or more people or groups regard and behave toward each other.

Competence

Refers to the ability of an individual to effectively perform or execute a particular task or role to a specified standard or expectation.

Autonomy Needs

Refers to the degree to which an individual desires the freedom to make choices and decisions independently.

Autonomous Motivation

A form of intrinsic motivation where individuals engage in behavior out of genuine interest or personal endorsement of its value.