Ryan wishes to purchase a new boat and can afford monthly payments of up to $$ 600$ per month. Finance is available, and the terms
Ryan wishes to purchase a new boat and can afford monthly payments of up to $\$ 600$ per month. Finance is available, and the terms are that the loan lasts for 4 years and the annual interest rate is $11 \%$. What is the maximum price for a boat that Ryan's budget can afford?
Round your answer to the nearest hundred dollars. Do NOT round until you have calculated the final answer.
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Authors: Roger Staiger
2nd Edition
1138046183, 978-1138046184
