Jana Has $1,500 for a Down Payment and Thinks She

question 22

Multiple Choice

Jana has $1,500 for a down payment and thinks she can afford monthly payments of $300.If she can finance a vehicle with a 7%,4-year loan,what is the maximum loan amount Jana can afford?

• A)$12,528
• B)$14,000
• C)$16,028
• D)$17,900
• E)$18,028

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Definitions:

Learned Helplessness

A state where an individual feels helpless, stemming from experiencing a traumatic incident or continual inability to achieve success.

Cognitive Dissonance

The psychological discomfort experienced when holding two or more contradictory beliefs, ideas, or values, or when one's behavior contradicts their established beliefs.

Past Experiences

Events or occurrences that have taken place in an individual's life prior to the present moment, influencing their behavior and decision-making.

Negative Thinking

A cognitive process wherein an individual consistently perceives or anticipates the worst possible outcomes or focuses on the most negative aspects of a situation.