CAR FINANCING FOR LESS

Question

2-YEAR TERM

UP TO $40,000

6% COMPOUNDED ANNUALLY WITH A $500 UP-FRONT PAYMENT

Question
What part of the offered deal is the interest rate?

(1 point)
Responses

2 YEAR TERM

2 YEAR TERM

UP TO $40,000

UP TO $40,000

6% COMPOUNDED ANNUALLY

6% COMPOUNDED ANNUALLY

$500 UP-FRONT PAYMENT

Answer 1

The interest rate in the offered deal is 6% compounded annually.