Anna Conda purchased a new Toyota Tundra pickup truck for $35,000 and financed $31,000 with a 5 year, 4% loan. Following the format of the loan disclosure statement, answer the following questions.

What is the APR of the loan?

		6%
		5%
		4%
		3%

1 points

QUESTION 2

What is the total of all of the loan payments made?

		$34,261
		$34,970
		$33,264
		$32,834

1 points

QUESTION 3

What is the actual amount borrowed?

		$35,000
		$33,000
		$31,000
		$29,000

1 points

QUESTION 4

What is total finance or interest cost associated with the loan?

		$3434
		$3261
		$3070
		$2964

1 points

QUESTION 5

The interest charged on this loan is calculated by

		simple interest
		compound interest