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You wish to purchase a vehicle. You can afford $333.67 per month for a vehicle payment. Five (5) years (60 months) is the most you
You wish to purchase a vehicle. You can afford $333.67 per month for a vehicle payment. Five (5) years (60 months) is the most you can pay for a vehicle. Your cost of borrowing is a 12% annual rate. Assuming there is no down payment or trade-in. What is the value or purchase price of a vehicle you can afford? (Hint - find the Present Value.) Choose the best answer. 0 $18.000 $9.000 $12.000 $20.000 $15.000
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