Multiple Choice
You are borrowing money to buy a car. If you can make payments of $320 per month starting one month from now at an interest rate of 12%, how much will you be able to borrow for the car today if you finance the amount over 4 years?
A) $7291.00
B) $14,582.00
C) $17,012.34
D) $12,151.67
Correct Answer:
Verified
Correct Answer:
Verified
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