PV AND LOAN ELIGIBILITY You have saved $ 5 , 0 0 0 for a down payment on a new car The largest monthly payment you can afford is $ 4 0 0 The loan will have a 1 2 APR based on end of month payments What is the most expensive car you can afford if you finance it for 4 8 months Round to TwO decimal places

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PV AND LOAN ELIGIBILITY You have saved $ 5 , 0 0 0 for a down payment on a new car. The largest monthly payment

PV AND LOAN ELIGIBILITY You have saved $

5, 000

for a down payment on a new car. The largest monthly payment you can afford is $

400 .

The loan will have a

12 %

APR based on end

-

-

month payments. What is the most expensive car you can afford if you finance it for

48

months? Round to TwO decimal places.

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