Multiple Choice
Matthew wants to take out a loan to buy a car.He calculates that he can make repayments of $4000 per year.If he can get a five-year loan with an interest rate of 7.5%,what is the maximum price he can pay for the car?
A) $16,184
B) $18,243
C) $20,324
D) $21,674
E) $20,000
Correct Answer:
Verified
Correct Answer:
Verified
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