When an Auto Loan's Terms Are 8% Per Year Interest,seven

question 16

Multiple Choice

When an auto loan's terms are 8% per year interest,seven years in length,and a purchase price of $20,000,what value should be entered in the Rate field?

• A) 8%
• B) .08*12
• C) .08/12
• D) 8%-12

---

Definitions:

Overestimate

To assess something as being greater, larger, or more significant than it actually is.

Anorexia Nervosa

A condition where individuals severely underweight excessively fear weight gain and have a skewed view of their body mass.

Obsessive-Compulsive Disorder

A mental disorder characterized by persistent, unwanted thoughts (obsessions) and repetitive, ritualistic behaviors (compulsions) that the individual feels compelled to perform.

Anorexia Nervosa

An eating disorder marked by an intense fear of gaining weight and a distorted body image, leading to severe restriction of food intake.