Question: Henry has $2,000 for a down payment and thinks he can afford monthly payments of $400. If he can finance a vehicle with an 7%,

Henry has $2,000 for a down payment and thinks he can afford monthly payments of $400. If he can finance a vehicle with an 7%, 3-year loan from a local bank, what is the maximum amount Henry can spend on the car? (Round to the nearest dollar.)

Question 29 options:

	$12,765
	$14,400
	$14,962
	$15,200
	$16,865

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