You were recently approved for a line of credit at your optometrist's office. The following are the credit terms you were given:

Question

You were recently approved for a line of credit at your optometrist's office. The following are the credit terms you were given:

Terms:
Principal

Interest rate

Repayment period

months
Monthly payment

Total interest paid

Total cost of the loan

Given these terms, what is the maximum amount you can spend using this line of credit?
Choose 1 answer:
Choose 1 answer:
(Choice A)

A

(Choice B)

B

(Choice C)

C

(Choice D)

D

Answer 1

Without specific values for the principal, interest rate, repayment period, and monthly payment, it is impossible to determine the maximum amount you can spend using this line of credit. The answer cannot be determined based on the information provided.