Henry Has $2,500 for a Down Payment and Thinks He

question 148

Multiple Choice

Henry has $2,500 for a down payment and thinks he can afford monthly payments of $400.If he can finance a vehicle with an 8%,3-year loan,what is the maximum amount Henry can spend on the car?

• A)$12,765
• B)$14,400
• C)$14,079
• D)$15,265
• E)$16,879

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Definitions:

Security System

A setup of interconnected devices and components designed to protect and monitor premises against burglary, theft, and other unauthorized access.

Basic Postulate

A fundamental assumption or principle that serves as the foundation for a theory, argument, or system of belief.

Economic Policy

A course of action or a set of decisions made by a government or central authority that aims to influence or control the behavior of the economy.

Cheating

Dishonest behavior intended to gain an unfair advantage, typically in the context of academic or sports activities.