17. Jose bought a new car for $14,300. He made a $2000 down payment. He financed the rest at an annual interest rate of 7.5% for 48 months (4 years). How much less would his total interest be
for the same loan if he made a $3000 down payment?
a. $690.00
b. $390.00
C$300.00
d $200.00
18. Which of the following lists the steps for establishing credit in order?
a get a loan for a car or a house, open a bank account, get credit cards
b. open a bank account, get a loan for a car or a house, get credit cards
C. open a bank account, get credit cards, get a loan for a car or a house
d none of the above
19. Which of the following people has a debt ratio that is higher than 18%?
a. someone with a $1900 income and $330 in bills
b. someone with a $1800 income and $310 in bills
c. someone with a $1700 income and $300 in bills
d someone with a $1600 income and $290 in bills