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4. Now, suppose you want to buy a new car, but your monthly budget for car loan payments is only $300. You don't have any

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4. Now, suppose you want to buy a new car, but your monthly budget for car loan payments is only $300. You don't have any money to make down payment and plan to use the loan fully to pay the initial purchase price of the car. a. How expensive of a car can you afford to buy with such a loan if you plan to repay the loan in 4 years at 6% interest compounded monthly? b. How expensive of a car can you buy if you repay the loan in 6 years

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