Question: Blake Bohannan has saved $9,500 for a down payment on a new Jeep. The largest monthly payment he can afford is $1,250. The loan will

Blake Bohannan has saved $9,500 for a down payment on a new Jeep. The largest monthly payment he can afford is $1,250. The loan will have a 7% nominal rate (APR) with end-of-month payments. What is the most expensive car he can afford if he finances it for 96 months?

$101,184

$16,964

$82,184

$91,684

$27,330

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