Question

Car financing for less
2-year term
up to $40,000
6% compounded annually with a $500 up-front payment
Use the advertisement to answer the question.
What part of the offered deal is the interest rate?
a. 2-year term
b. up to $40,000
c. 6% compounded annually
d. $500 up-front payment

Answer 1

The part of the offered deal that represents the interest rate is:

c. 6% compounded annually