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Someone needs to borrow ​$11,000 to buy a car and the person has determined that monthly...

Someone needs to borrow ​$11,000 to buy a car and the person has determined that monthly payments of ​$200 are affordable. The bank offers a 4​-year loan at 6​% ​APR, a 5​-year loan at 6.5​%, or a 6​-year loan at 7​% APR. Which loan best meets the​ person's needs?

A. The second loan best meets the​ person's needs because the monthly payment of ​$ _____ nothing

is less than the maximum budgeted amount of ​$200 per month

B. The first loan best meets the​ person's needs because the monthly payment of $ ______​nothing is less than the maximum budgeted amount of ​$200 per month.

C.The third loan best meets the​ person's needs because the monthly payment of ​$ ______nothing is less than the maximum budgeted amount of

​$200

per month.

D. None of the loans meet the​ person's needs.

Math   Statistics-And-Probability   
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