$18$:$28$

$,$ ~~ $($II

Notes

March $19,2024$ at $18$:$28$

You have saved $$4,000$ for a down payment on a new car. The largest monthly payment you can afford is $$400.$ The loan will have a $12\%$ APR based on end$-$of$-$month payments. What is the most expensive car you can afford if you finance it for $48$ months? For $60$ months? Do not round intermediate calculations. Round your answers to the nearest cent.

Financed for $18$ months: $

Financed for $60$ months: $

:$-$