You decide to take out a car loan for $35,000 at 5% APR with monthly payments of $838.12.Over how many years is your loan being paid?
A)2 years
B)3 years
C)4 years
D)5 years
E)6 years

Name: You decide to take out a car loan for $35,000 at 5% APR with monthly payments of $838.12.Over how many years is your loan being paid? A)2 years B)3 years C)4 years D)5 years E)6 years
Brand: Quizplus
Rating: 4.8 (38 reviews)

Question

Quizplus · Accepted Answer

The monthly payment of $838.12 for a $35,000 loan at 5% APR corresponds to a 4-year loan term.

You Decide to Take Out a Car Loan for $35,000