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please answer both questions! eBook You have saved $3,000 for a down payment on a new car. The largest monthly payment you can afford is
please answer both questions! eBook You have saved $3,000 for a down payment on a new car. The largest monthly payment you can afford is $450. The loan will have an 11% APR based on end-of-month payments What is the most expensive car you can afford if you finance it for 48 months? Do not round Intermediate calculations. Round your answer to the nearest cent. $ What is the most expensive car you can afford if you finance it for 60 months? Do not round Intermediate calculations. Round your answer to the nearest cent. $ eBook Problem Walk-Through An investment will pay $100 at the end of each of the next 3 years, $200 at the end of Year 4, $400 at the end of Year 5, and $600 at the end of Year 6. If other investments of equal risk eam 7% annually, what is its present value? Its future value? Do not round intermediate calculations. Round your answers to the nearest cent. Present value: Future values
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