You have reviewed your budget and determine that the most you can afford on a car loan is $455 per month. What is the most you can borrow if interest rates are 7 percent and you can pay the loan over four years?
A) $19,000.89
B) $19,741.29
C) $20,074.82
D) $21,671.53

Question

Quizplus · Accepted Answer

The correct answer is A because $19,000.89 is the most you can borrow if interest rates are 7 percent and you can pay the loan over four years.

You Have Reviewed Your Budget and Determine That the Most