Suppose you have gross monthly income of $5,000 per month and determine that you can comfortably afford a car payment of $300 per month for 72 months at 4.25 percent interest, how much will you be able to borrow for a new car?.

Question 5 options:

a)	$16,306.27

b)

$6,051.35

c)	$19,036.32

d)	$20,251.56