The largest monthly payment we can afford is $360. Can we afford to borrow a principal of $6750 with a term of 18 months?
A) Yes, because we need to pay $350 when there is no interest.
B) Yes, because we need to pay $360 when there is no interest.
C) No, because we need to pay at least $375 when there is no interest.
D) Not enough information to decide.
Correct Answer:
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