1. Magda is going to finance her car purchase using an auto loan. Which statement below is accurate? *
Her principal is the cost of the car, minus any down payment she makes
Her interest rate is the total cost she'll pay after making all of her principal and
interest payments
Choosing a shorter term means it will take her longer to repay the loan
It's likely that her monthly payment will be between 4-5% of the cost of the car