Ursula Wants to Buy a $19,000 Used Car

question 96

Multiple Choice

Ursula wants to buy a $19,000 used car. She has savings of $2,000 plus an $800 trade-in. She wants her monthly payments to be about $282. Which of the following loans offers monthly payments closest to $282?

• A) 7.8% APR for 36 months
• B) 7.8% APR for 48 months
• C) 7.8% APR for 60 months
• D) 7.8% APR for 72 months