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You can get a car loan with a term of 4 years at a compounded annual interest rate of 5%. If you can afford a

You can get a car loan with a term of 4 years at a compounded annual interest rate of 5%. If you can afford a monthly payment of $300, how much can you afford to borrow? Show your calculations.

Calculation help: Amount borrowed = (h )[(1+)1] / ()(1+)

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