Question
You want to buy a new car, but you can make an initial payment of only $1855 and can afford monthly payments of at most
You want to buy a new car, but you can make an initial payment of only $1855 and can afford monthly payments of at most $316. If the interest rate is 6.4 percent per year compounded monthly and you finance the purchase over 48 months, what is the maximum price you can pay for the car?
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ISE Business Accounting
Authors: Frank Wood, Alan Sangster
8th Edition
9780273638407
