Matthew Wants to Take Out a Loan to Buy a Car

question 6

Multiple Choice

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?

• A) $16,598
• B) $19,918
• C) $23,237
• D) $26,557

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Definitions:

Brain Areas

Regions within the brain specialized for various functions such as memory, emotion, and sensory processing.

Lateralized

Pertaining to activities or functions that are dominantly controlled by one side of the brain.

Tape-Recorded Sound

Refers to audio recordings made on magnetic tape, a method that was widely used before digital recording technologies.

Dent

A small hollow or depression in a surface, typically caused by a hit or pressure.