STEP: 3 of 3 Now it's time for you to practice what you've learned. Suppose you have saved $2,500 for a down payment on a new car. The largest monthly payment you can afford is $300. The loan will have a 12% APR based on end-of-month payments. Use a financial calculator to determine the most expensive car you can afford if you finance it for 48 months versus 60 months. Months Financed Maximum Car Price 48 60 If you finance the car for a longer period of time, you can afford a more expensive car True False