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Joshua wants to buy a car. They can only afford to pay $420 per month for the car. They want to trade-in their old car
Joshua wants to buy a car. They can only afford to pay $420 per month for the car. They want to trade-in their old car as a $4,800 down payment. If they agree to a 6-year loan that charges a 10.1% interest rate and they figure the car will cost $80 per month in taxes, insurance, fees, and maintenance, what is the most they can afford to pay for their next car
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