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Matt wants to purchase a car. He can afford to pay $250 per month and the bank will charge 8% APR interest on the loan.
Matt wants to purchase a car. He can afford to pay $250 per month and the bank will charge 8% APR interest on the loan. He intends to pay off the car in five years. Of the following, which is the most expensive vehicle in his price range that he should consider? (You must justify this answer by showing your calculations. If no work is shown, you will not receive credit.)
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