You Are Borrowing Money to Buy a Car

question 35

Multiple Choice

You are borrowing money to buy a car.If you can make payments of $300 per month starting one month from now at an interest rate of 4%,how much will you be able to borrow for the car today if you finance the amount over four years?

• A)$6,358.54
• B)$13,067.62
• C)$15,587.88
• D)$13,286.65
• E)$15,287.27

---

Definitions:

World Population

The total number of living humans on Earth at a given time, which has been continuously growing and currently exceeds 7 billion people.

Survival

The capacity of an organism to continue living or existing, despite challenging conditions or threats.

Random Chance

The concept that events occur with no deterministic pattern or predictability, often used to explain the occurrence of events without apparent cause.

Anthrax

A serious disease caused by Bacillus anthracis, characterized by skin ulcers, lung infections, or septicemia, and affecting humans and animals.