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

Answer: A

Business

You might also like to view...

What is the root concept of "value chain analysis"?

A. product uniqueness B. value maximization C. high quality standards D. cost reduction E. high performance standards

Business

Which of the following types of attributes are typical of services?

A) search B) experience C) credence D) feature

Business