An Auto loAn
john BAkEr works in thE loAn DEpArtmEnt oF A BAnk in DEnvEr, ColorADo. hE is A loAn oF- riCEr. stAnlEy FAnElli hAs An AppointmEnt with him now to Ask ABout A loAn. hE nEEDs monEy to Buy A nEw CAr.
mr. B: hEllo, mr. FAnElli. plEAsE hAvE A sEAt. whAt CAn i Do For you toDAy?
mr. F: i wAnt to Borrow somE monEy to Buy A CAr. A FriEnD oF minE, jACk riChArDson, Bought A nEw CAr lAst wEEk. hE tolD mE thAt hE got his loAn hErE.
mr. B: oh yEs. i rEmEmBEr him. i wAs thE loAn oFFiCEr who spokE with him.
mr. F: hE sAiD thAt you wErE vEry hElpFul. i know vEry littlE ABout loAns AnD i hopE you CAn ExplAin things to mE.
mr. B: i will CErtAinly try. whAt quEstions DiD you hAvE For mE?
mr. F: First, i wAnt to know iF loAns For Buying CArs ArE CommErCiAl loAns or pErsonAl loAns.
mr. B: nEithEr, mr. FAnElli. thEy'rE Auto loAns. A CommErCiAl loAn is prinCipAl thAt BAnks lEnD to BusinEssEs. pErsonAl loAns ArE mADE to inDiviDuAls, But not For Buying CArs.
mr. F: whAt ABout intErEst rAtEs?
mr. B: thE rAtE oF intErEst CurrEntly in EFFECt on Auto loAns is 16%.
mr. F: For how long will i hAvE to mAkE monthly pAymEnts?
mr. B: thE tErm oF thE loAn is thrEE yEArs, so thErE will BE 36 monthly pAymEnts.
mr. F: Do i hAvE to givE thE BAnk Any CollAtErAl?
mr. B: thE CAr sErvEs As CollAtErAl. iF you DEFAult, thE BAnk CAn tAkE possEssion oF thE CAr. thE BAnk Also ChECks your CrEDit FilE to mAkE surE thAt you AlwAys pAiD BACk your loAns in thE pAst. Do you hAvE Any ChArgE ACCounts?
mr. F: my wiFE AnD i Bought our FurniturE with our ChArgE CArD AnD wE EvEn usED it to Buy AirplAnE tiCkEts For our vACAtion in CAliForniA lAst yEAr. wE pAiD oFF Both thosE DEBts promptly.
mr. B: thAt's vEry gooD. i AssumE thErE will BE no proBlEm. But thE First thing you hAvE to Do is Fill out this loAn AppliCAtion.
mr. F: thAnk you vEry muCh. i'll stArt right now.
stAtE whEthEr EACh stAtEmEnt is truE or FAlsE BAsED on thE DiAloguE BEtwEEn john BAkEr AnD stAnlEy FAnElli.
mr. FAnElli nEEDs A loAn to Buy his nEw CAr.
A．truE
B．FAlsE