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QuizMultiple Choice

Personal Loans

Question 1 • 2025-2026 GSP Mathematical Reasoning for Decision Making

Annie would like to take out a loan to put a new playground in her yard for her kids. She offers her car which is worth $7,800 as collateral. The loan officer at the bank is permitted to loan Annie 92% of the value of her collateral. How much will Annie be able to borrow for the playground using her car as collateral? a.$7,708.00b.$7,176.00c.$7,800.00d.$8,478.26

Answer
A
A
B
B
C
C
D
D
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