Hello, I've been stuck on this problem form my text, and I would like some help in
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Hello, I've been stuck on this problem form my text, and I would like some help in understanding how to calculate this
Jared can afford to make monthly car payments of $360 for the next 48 months. If his bank charges annual interest rates of 9%, approximately how much money can Jared afford to borrow from his bank to buy a car?
Can someone help me understand how to calculate the loan amount for this problem?
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