Question
You are looking to buy a car. You can afford $510 in monthly payments for four years. In addition to the loan, you can make
You are looking to buy a car. You can afford $510 in monthly payments for four years. In addition to the loan, you can make a $1,600 down payment. If interest rates are 8.50 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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Corporate Finance Core Principles and Applications
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford
3rd edition
978-0077971304, 77971302, 978-0073530680, 73530689, 978-0071221160, 71221166, 978-0077905200
