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While Shopping for a Car Loan, You Get the Following

Question 78

Multiple Choice

While shopping for a car loan, you get the following offers: Solid Savings & Loan is willing to loan you $25,000 at 13% interest for 5 years. Fifth Federal Bank & Trust will loan you the $25,000 at 7% for 6 years. Both require monthly payments. You can afford $500 per month. Which loan, if either, can you take


A) Both
B) Fifth Federal Bank & Trust
C) Neither
D) Solid Savings & Loan

Correct Answer:

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