Your bank is offering to finance your new car purchase for 3 years at 4.95%. If you were to borrow $72,000 for the car, what would your payment be? Question 18 options: $2,027 $1,946 $1,763 $1,909 $2,156
Question 18 options:
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$2,027
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$1,946
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$1,763
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$1,909
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$2,156
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An annuity is a financial product that provides a series of payments to an individual or entity at regular intervals over a specified period of time. An annuity can be purchased from an insurance company or an investment firm, and is often used as a retirement income stream or to save for future expenses.
There are two main types of annuities: fixed and variable. A fixed annuity provides a guaranteed fixed payment amount at regular intervals, typically for the life of the annuitant or for a specific period of time. A variable annuity, on the other hand, allows the annuitant to invest the annuity payments into a variety of investment options, such as stocks, bonds, and mutual funds. The payment amount for a variable annuity is not fixed, but instead varies based on the performance of the underlying investments.
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