Complete the following worksheet using the four pages from the student handbook scanned

1.)
a. Principal - The amount that is bo
owed is considered the principal of the loan ($ 7,000)
. APR - The Annual Percentage Rate (APR) is the amount that you pay per year to bo
ow money, including taxes, expressed as a percentage (5%)
c. Down payment – A down payment is the amount of cash the bo
ower pays toward the car at the point of sale, or when he or she makes a
angements to purchase it The larger the down payment, the less the car buyer needs to bo
ow ($3,000)
d. Duration – Life of the Car loan (6years)
e. Collateral- The car that is purchased is collateral for the loan. If the bo
ower does not repay the loan, the lender can take back the car to help make up for the loss (Car)
2.) If Fatima pays extra for the down payment, the principal amount will be reduced at the same time the length of the debt is also decreased.
3.)
a.) Principal - The amount that is bo
owed is considered the principal of the loan ($9,000)
.) Quoted Interest rate – Rate describes how much interest charges you will pay on the balance of your loan over a period of time(7%)
c.) APR – The Annual Percentage Rate (APR) is the amount that you pay per year to bo
ow money, including taxes, expressed as a percentage (5% or 15%)    
d.) Dow Payment - A down payment is the amount of cash the bo
ower pays toward the car at the point of sale, or when he or she makes a
angements to purchase it. The larger the down payment, the less the car buyer needs to bo
ow ($1,000)
f. Duration – Life of the loan (8years)
g. Collateral – The car that is purchased is collateral for the loan. If the bo
ower does not repay the loan, the lender can take back the car to help make up for the loss (car)
4.) 4.) The car loan given to Fatima seems structured. It is in compliance with the laws and regulations made by the government on every car loan. While another loan uses its own form of financing the car, it charges more implicit fees that are both costly and illegal.
5.) a.) Balance – Amount which is left after the transaction made during the month ( $1,700)
.) APR- Annual percentage rate is what is charged on the unpaid balance after 30 days (20%)
c.) Credit Limit – is the maximum amount of money the bo
ower can put on his or her card ($2,000)
d.) Minimum Payment - Minimum amount that you are expected to pay on or before the due date of payment to retain your card account. Just a limited portion of the principal is unpaid each month. Usually, the minimum amount owed is measured as 5% of your remaining balance ($30)
6.) I would advise Avi to pay full amount and not pay minimum amount because if Avi pay minimum amount i.e. $ 30, Avi stills needs to...