Question
You are looking to buy a car. You can afford $500 in monthly payments for four years. In addition to the loan, you can make
You are looking to buy a car. You can afford $500 in monthly payments for four years. In addition to the loan, you can make a $1,500 down payment. If interest rates are 8.25 percent APR, what price of car can you afford? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Present value$ ___
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Financial Management for Public, Health and Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
5th edition
