Kendall is about to buy a Honda Ruckus Scooter to get back and forth to school. He is looking at various used and new models, but with his current budget he can only afford a monthly payment of $130. If he finances his scooter over 3 years at an APR of 7.2%, what is the maximum amount he can pay for the scooter?

Answer rating: 100% (QA)

We can use the loan payment formula to find the maximum loan amount Kendall can afford given his mon... View the full answer