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A student has a job that leaves him with $500 per month in disposable income. He decides that he will use the money to buy
- A student has a job that leaves him with $500 per month in disposable income. He decides that he will use the money to buy a car. Before looking for a car, he arranges a 100% loan whose terms are $500 per months for 36 months at 12% annual Interest. What is the maximum car purchase price that she can afford with her loan?
a. 15,053
b. 14,560
c. 13,538
d. 12,052
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International Economics
Authors: Robert C. Feenstra, Alan M. Taylor
3rd edition
978-1429278515, 142927851X, 978-1319029517, 1319029515, 978-1429278447
