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Posted on May 18, 2024

You can afford $ 5 5 0 per month for car loan payments. For a 4 8 - month loan at 8 . 0 %

You can afford $

550

per month for car loan payments. For a

48 -

month loan at

8.0 %

stated annual interest, with the first payment one month from now, how much can you borrow? Please round your answer to the nearest hundredth.

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