You Are Saving Money to Buy a Car

question 46

Multiple Choice

You are saving money to buy a car.If you save $300 per month starting one month from now at an interest rate of 4%,how much will you be able to spend on the car after saving for 4 years?

• A)$41,778.96
• B)$15,287.27
• C)$15,587.88
• D)$13,286.65

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Definitions:

New Trial

A court-ordered repetition of all or part of a legal proceeding, usually due to procedural error, new evidence, or unfair trial.

Judgment Creditor

A creditor who is legally entitled by a court’s judgment to collect the amount of the judgment from a debtor.

Court's Judgment

The final decision made by a judge or court in a legal case, determining the resolution of the dispute.

Debtor

A person or entity that owes money to another; the opposite of a creditor.