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You have reviewed your budget and determine that the most you can afford on a car loan is $455 per month. What is the most you can borrow if interest rates are 7% and you can pay the loan over 4 years? Answer =

A local furniture store is advertising a deal in which you buy a $3,500 living room set with 3 years before you need to make payments (no interest is incurred). How much would you have to deposit each month in a savings account earning 3.5% APR, compounded monthly, to be able to pay the $3,500 bill in three years? Answer =