Use the Information for the Question(s)below

question 14

Multiple Choice

Use the information for the question(s) below.
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 5.9% APR.You monthly payments are $617.16 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)$14,808.
• B)$20,300.
• C)$22,212.
• D)$32,000.

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Definitions:

Connective Tissue

Biological tissue that supports, connects, or separates different types of tissues and organs in the body, consisting of cells embedded in a considerable amount of extracellular matrix.

Tetany

Intermittent tonic spasms resulting from inadequate parathyroid hormone.

Magnesium

A chemical element (Mg) that is a vital mineral for the human body, involved in over 300 biochemical reactions.

Phosphorus

A chemical element with the symbol P and atomic number 15, essential for life, used in fertilizers, and present in bones, DNA, and ATP.