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Matt can afford car payments of $300 a monthfor 48 months(4 years). The bank will lend him money to buy a car at 12.00 percent

Matt can afford car payments of $300 a monthfor 48 months(4 years). The bank will lend him money to buy a car at 12.00 percent annualinterest. How much money can he afford to borrow?

A. $3,515.40 B. $5,725.65 C. $7,650.60 D. $8,500.12 E. $11,392.19

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