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According to a credit reporting agency, 4.1% of car-loan payments were 90 days past due in a certain region in 2016. Lenders prefer auto loans
According to a credit reporting agency,
4.1%
of car-loan payments were
90
days past due in a certain region in
2016.
Lenders prefer auto loans to home mortgages because when borrowers get into financial trouble they tend to pay the auto loan first because cars are more easily seized by banks. A random sample of
25
car loans was randomly selected. Complete parts a through d.
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