You Can Afford Monthly Payments of $250, and You Find

question 26

Multiple Choice

You can afford monthly payments of $250, and you find a car dealer offering a 3.9% annual rate compounded monthly on a 5-year loan. Rounded to the nearest $100, what is the most expensive car you can afford?

• A) $13,200
• B) $13,600
• C) $15,000
• D) $15,600

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Definitions:

Ethical Dilemma

A situation in which a person must choose between two or more actions that have different moral implications, making it difficult to decide the right course of action.

Shareholders

Individuals or entities that own shares in a corporation, making them partial owners of the company.

Leaders and Loyalty

The relationship and dedication that leaders inspire in their followers to commit to a cause or organization.

Nuremberg Defense

A legal defense where the defendant claims they were following orders and therefore should not be held responsible for their actions.