Based on the Quantity Equation,if M = 8,000,P = 3,and

question 98

Multiple Choice

Based on the quantity equation,if M = 8,000,P = 3,and Y = 12,000,then V =

• A)0.33.
• B)2.0.
• C)4.5.
• D)0.5.

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APR

Annual Percentage Rate; a measure that reflects the cost of borrowing money or the return on an investment, including interest and other associated fees, shown as a yearly rate.

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Car Loan

A financial agreement in which a lender provides funds to a borrower for the purpose of purchasing a vehicle, to be repaid with interest over a set period.

FICO Score

A score that summarizes the probability that a debtor will pay a debt and is a reliable way that creditors judge credit worthiness.