Use estimation to select the best response. Do not calculate.
A reasonable APR to pay for a 3-year automobile loan is

A) 6%
B) 40%
C) $2,000

Question

Use estimation to select the best response. Do not calculate. ​
A reasonable APR to pay for a 3-year automobile loan is
​
A) 6%
B) 40%
C) $2,000

Quizplus · Accepted Answer

A reasonable APR for a 3-year automobile loan is typically in the range of 2-10%, and 6% falls within that range. Option B) 40% is extremely high and not reasonable for an automobile loan, and C) $2,000 is not a relevant answer to the question.

Use Estimation to Select the Best Response