Question

Which of the following has no effect on the monthly payment?

Interest rate
O
B. Down payment
O
C. State in which the vehicle is purchased
O
D. Numbers of months the car is expected to be financed

Answer 1

C is correct

Explanation:

Answer 2

Option C

State in which the vehicle is purchased

Explanation:

Irrespective of the state of the vehicle during purchase, the original price agreed between the buyer and seller must be paid hence this doesn't affect monthly payment for the asset. Otherwise, the rate of interest, down payment and months that one is expected to complete payment affect the amount of money that one pays monthly.