Question
You are looking to buy a car. You can afford $450 in monthly payments for four years. In addition to the loan, you can make
You are looking to buy a car. You can afford $450 in monthly payments for four years. In addition to the loan, you can make a $1,000 down payment. If interest rates are 5% APR, what price of car can you afford? Please provide the formula calculations or the steps for the financial calculator, specifically the hp12c.
Multiple Choice
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$2,595.68
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$20,540.33Correct
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$19,540.33Incorrect
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$9,134.72
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School Finance A Policy Perspective
Authors: Allan Odden, Lawrence Picus
6th Edition
1259922316, 9781259922312
