2. Taylor is about to go car shopping, and she has $5000 saved that she can use for a down payment while still having extra

2. Taylor is about to go car shopping, and she has $5000 saved that she can use for a down
payment while still having extra cash in her emergency fund. She expects the exact model
car she’s looking for to cost $35,000. If her top priority is having the lowest monthly
payments possible, which advice should she follow?wou tonte
a. Put in $0 for your down payment, and choose a loan with a short term length
b. Put in $2500 for your down payment, and choose a loan with a short term length
c. Put in $3500 for your down payment, and choose a loan with a long term length
d. Put in $5000 for your down payment, and choose a loan with a long term length

1 thought on “2. Taylor is about to go car shopping, and she has $5000 saved that she can use for a down payment while still having extra”

  1. The best option for Taylor is d. Put in $5000 for your down payment, and choose a loan with a long term length

    What is a loan?

    A loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, or other entities in finance. The recipient (i.e., the borrower) incurs a debt and is typically required to pay interest on that debt until it is repaid, in addition to repaying the principal amount borrowed.
    The document evidencing the debt (for example, a promissory note) will typically specify the principal amount borrowed, the interest rate charged by the lender, and the date of repayment.
    In this case, choosing a long term repayment plan will make it easier to pay back.
    Learn more about loan on:
    #SPJ1

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