Joseph Buys a Hummer for $59,000, Financing It with a Five-Year

question 16

Multiple Choice

Joseph buys a Hummer for $59,000, financing it with a five-year 7.60% APR loan paid monthly. He decides to pay an extra $50 per month in addition to his monthly payments. Approximately how long will he take to pay off the loan under these conditions?

• A) 59.57 months
• B) 57.07 months
• C) 54.57 months
• D) 60.57 months

---

Definitions:

Deferred Imitation

The ability to reproduce or mimic the behavior of others after a delay, indicating a form of memory and cognitive development.

Cross-Culturally

Pertaining to or comparing between two or more cultures, often to understand differences and similarities in practices, values, or beliefs.

Reminders

Cues or signals that prompt the recall of information or motivate actions that might otherwise be forgotten.

Memory Testing

Memory testing refers to the assessment of an individual's ability to recall, recognize, or utilize information that has been previously learned, helping to identify possible impairments or declines.