Question: A student has a job that leaves her with $250 per month in disposable income. She decides that she will use the money to buy

A student has a job that leaves her with $250 per month in disposable income. She decides that she will use the money to buy a car. Before looking for a car, she arranges a 100% loan whose terms are $250 per month for 36 months at 18% annual interest. What is the maximum car purchase price that she can afford with her loan?

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