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Ginny's Car - Buying Decisions Ginny, who lives in St . Louis, is trying to decide between the following car models: She's currently accumulated a

Ginny's Car-Buying Decisions
Ginny, who lives in St. Louis, is trying to decide between the following car models:
She's currently accumulated a down payment of $5,000 and she has determined that she can afford maximum payments $425 per monther
initial research on the current cost of auto loans has found that her lowest cost loan would be made by a credit union and would require an interest
rate of 6% for four years.
Given this information, the maximum amount that Ginny can afford to pay for her new car is $23,097grad, and the most expensive car that she can
afford to purchase, without stretching her budget, is:
The Kia Rio
The Chevrolet Camaro
The Ford F-150 Pickup
The Jeep Patriot
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