Question $11$ of $13>$

a A friend claims to have found a really great deal at a local loan agency not listed in the phone book. The agency claims that its Erates are so low that you can borrow $$10,000$ with a term of three years for a monthly payment of $$205.$

Find the difference between monthly payments $($by Rule of Thumb $4\mathrm{.}3)$ and monthly payments advertised by the local loan agency.

Give your answer as a positive number to the nearest cent.

$

$145$

Incorrect

Is this loan too good to be true?

Yes, this loan repayment amount is too good to be true.

It cannot be determined if this loan repayment amount is a good deal or not.

No$,$ this sounds like a good deal.