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PV AND LOAN ELIGIBILITY You have saved $6,000 for a down payment on a new car. The largest monthly payment you can afford is $500.

PV AND LOAN ELIGIBILITY You have saved $6,000 for a down payment on a new car. The largest monthly payment you can afford is $500. The loan will have a 12% APR based on end-of-month payments. What is the most expensive car you can afford if you finance it for 60 months? Round to TWO decimal places

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