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02-06-2023
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You have saved $3,000 for a down payment on a new car. The largest monthly payment you can afford is $500. The loan will have an 11% APR based on end-of-month
payments. What is the most expensive car you can afford if you finance it for 48 months? Do not
round intermediate calculations. Round your answer to the nearest cent.
$ What is the most expensive car you can afford if you finance it for 60 months? Do not
round intermediate calculations. Round your answer to the nearest cent.

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