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You want to buy a car and are trying to figure out what you can afford. You plan to take out a 4 - year

You want to buy a car and are trying to figure out what you can afford. You plan to take out a

4 -

year loanand make monthly payments. The bank will charge you

4.9 %

compounded monthly. You can only afford amonthly payment of $

250 .

How much money can you afford to borrow to buy your car

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