Read the following example. go online or call banks to research car loans from different financial institutions. choose three different loans. make sure each loan has a different apr and different loan period. for instance, if loan 1 has an apr of 6.3 percent and a loan period of six years, then perhaps loan 2 might have an apr of 3.47 percent and a loan period of four years. then use the paced decision-making model to decide which of the three car loans carmen should choose.

carmen is in the process of buying a car. she knows she needs a car loan, but she is unsure about which financial institution she should obtain the car loan from. should she take out a loan with a loan period of four years? five years? six years? she has $3,000 for the down payment, and the cost of the car after tax and license fees will be $8,500. she has a credit score of 620. her budget will allow her to make payments as high as $150 per month. remember, the goal is to find the most cost-effective option. which car loan should carmen choose?

the question> > which car loan should carmen choose?