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Matthew Wants to Take Out a Loan to Buy a Car

question 6

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Matthew wants to take out a loan to buy a car. He calculates that he can make repayments of $5000 per year. If he can get a four-year loan with an interest rate of 7.9%, what is the maximum price he can pay for the car?


Definitions:

Limbic System

A complex system of nerves and networks in the brain, involved in basic emotions and drives, such as fear, pleasure, and anger.

Autonomic System

A part of the peripheral nervous system that controls bodily functions not consciously directed, such as breathing, the heartbeat, and digestive processes.

Microelectrode Techniques

Scientific methods involving the use of tiny electrodes to measure electrical activity in single cells or small groups of cells, often used in neuroscience research.

Structural Imaging

Medical imaging techniques, like MRI and CT scans, that provide detailed images of the anatomical structure of the brain or other body parts.

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