You are now ready to purchase your first car. You have saved $6,000 towards the deposit. The financing company will loan you the balance to be repaid over the next 5 years in monthly instalments at an interest rate of 7%. You can afford to make a maximum monthly payment of $470. What is the maximum purchase price you can afford? Provide your answer with 2 decimal places. Do not use units. For example if you answer is $123.4567, enter 123.46. HINT: The compounding of of term loans is the same as the payment frequency. Purchase price includes the deposit and loan amount . Your