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7. I am a student and can afford a monthly car payment of $350. How much could I finance on a car purchase, assuming auto

7. I am a student and can afford a monthly car payment of $350. How much could I finance on a car purchase, assuming auto borrowing rates are 3.0%, and the term of the loan is 5 years?

8. I have since graduated from Webster. I can now afford a payment of $550 per month. How much could I finance now, assuming terms of 3.0%, and 6 years?

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