Question: Hubert Hubert s uncle recently died. Hubert will inherit enough money from his uncle to buy a new car. He doubts his current car will

Hubert

s uncle recently died. Hubert will inherit enough money from his uncle to buy a new car. He doubts his current car will continue running much longer but he doesn

t want additional debt payments right now. Hubert took out a loan to pay cash for a new car today and will pay off the loan as soon as he receives his inheritance.

Hubert most likely took outa single

-

payment

loan because heonly needed interim financing

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