Question
evelyn took out a car loan for $16,125 that has a 0% APR for the first 14 months and will be paid off with monthly payments over 6 years. for how many months will evelyn be charged interest?
A. 86 months
B. 72 months
C. 14 months
D. 58 months
A. 86 months
B. 72 months
C. 14 months
D. 58 months
Answers
GPT-4o mini
Evelyn's car loan has a 0% APR for the first 14 months, meaning she will not be charged any interest during that time. The entire loan period is 6 years, which is equivalent to 72 months (6 years × 12 months/year = 72 months).
After the initial 14 months, she will then have 58 months remaining in which she will be charged interest (72 months total - 14 months interest-free = 58 months).
Therefore, the correct answer is:
**D. 58 months**
After the initial 14 months, she will then have 58 months remaining in which she will be charged interest (72 months total - 14 months interest-free = 58 months).
Therefore, the correct answer is:
**D. 58 months**