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29. Phil can afford $180 a month for 5 years for a car loan. If the interest rate is 8.6 percent, how much can he

29. Phil can afford $180 a month for 5 years for a car loan. If the interest rate is 8.6 percent, how much can he afford to borrow to purchase a car? A. $7,750.00 B. $8,348.03 C. $8,752.84 D. $9,266.67 E. $9,400.00

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