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Mathematics, 13.01.2017 04:13 jlong2043

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.

$7,708.00
b.

$7,176.00
c.

$7,800.00
d.

$8,478.26

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