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You are looking to buy a car. You can afford $600 in monthly payments for five years. In addition to the loan, you can make

You are looking to buy a car. You can afford $600 in monthly payments for five years. In addition to the loan, you can make a $700 down payment. If interest rates are 9.25 percent APR, what price of car can you afford (loan plus down payment)?

Present value?

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