Question
You are looking to buy a car. You can afford $680 in monthly payments for five years. In addition to the loan, you can make
| You are looking to buy a car. You can afford $680 in monthly payments for five years. In addition to the loan, you can make a $780 down payment. If interest rates are 8.75 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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School Finance A Policy Perspective
Authors: Allan Odden, Lawrence Picus
5th Edition
0078110289, 978-0078110283
