11. Looking at the payment, you realize that you can't afford that much each month. Being...

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11. Looking at the payment, you realize that you can't afford that much each month. Being practical, you know that you can only afford to pay $400 per month for the car payment. If the dealer will finance at 5.1% interest for 6 years, what is the maximum loan amount that you can afford? 11. Looking at the payment, you realize that you can't afford that much each month. Being practical, you know that you can only afford to pay $400 per month for the car payment. If the dealer will finance at 5.1% interest for 6 years, what is the maximum loan amount that you can afford?

Answer rating: 100% (QA)

You can afford a monthly payment of 400 The loan term is 6 years In... View the full answer