Two Years Ago You Purchased a New SUV

question 89

Multiple Choice

Two years ago you purchased a new SUV. You financed your SUV for 60 months (with payments made at the end of the month) with a loan at 6.15% APR. Your monthly payments are $388.05 and you have just made your 24th monthly payment on your SUV. Assuming that you have made all of the first 24 payments on time, then the outstanding principal balance on your SUV loan is closest to ________.

• A) $14,000
• B) $12,727
• C) $15,273
• D) $17,818

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Definitions:

Negative Attributions

The tendency to explain the behavior of others based on internal, stable, and negative characteristics.

Depression

A mental condition characterized by a lasting despondent mood or absence of pleasure in usual activities, resulting in notable difficulties in daily existence.

Social-Cognitive

A theory in psychology that centers on how people learn by observing others and the role of cognitive processes in social behavior.

Global

Refers to something worldwide in scope or application.