You Are Interested in Purchasing a New Automobile That Costs

question 34

Multiple Choice

You are interested in purchasing a new automobile that costs $35,000.The dealership offers you a special financing rate of 6% APR (0.5%) per month for 48 months.Assuming that you do not make a down payment on the auto and you take the dealer's financing deal,then your monthly car payments would be closest to:

• A)$729.
• B)$822.
• C)$842.
• D)$647.

---

Definitions:

Coin Flip

A basic randomization method used to determine outcomes by flipping a coin.

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

52-Card Deck

A standard deck of playing cards used in many card games, consisting of four suits: hearts, diamonds, clubs, and spades, each with 13 ranks from Ace through King.

Draw

To produce a picture or diagram by making lines and marks on paper with a pencil, pen, etc., or within the context of games, a result in which opponents finish with equal scores.