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Matthew just graduated from college and has started his first job in sales. Based on conversations with his manager, Matthew believes his income will increase

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Matthew just graduated from college and has started his first job in sales. Based on conversations with his manager, Matthew believes his income will increase substantially over the next couple of years. His current gross monthly income is $3,250. Although Matthew's current car works fine, it does have a lot of miles on it. As a result, he would like to purchase a new car, Matthew has some student loans, credit card debt, and a car loan. His monthly required payments are $180 for student loans, $130 for credit card debt, and $245 for his car loan. He has a roommate, and Matthew currently pays $555 per month for his portion of the rent. if Matthew wants to keep his debt-to-Income ratio less than 37%, what is the maximum monthly payment that Matthew could have on a new car loan? Assume that Matthew could sell his current car and pay off the remaining balance of his current car loan (Round answers to decimal place, es 5275.) The maximum monthly payment that Matthew could have on a new car loan is $

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