Question: Henry has $2,500 for a down payment and thinks he can afford monthly payments of $400. If he can finance a vehicle with an 8%,

Henry has $2,500 for a down payment and thinks he can

Henry has $2,500 for a down payment and thinks he can afford monthly payments of $400. If he can finance a vehicle with an 8%, 3-year loan from a local bank, what is the maximum amount Henry can spend on the car? (Show your computations in the area provided below) B. I U S X2 x2 Ff 1 A 2,500+ 400[(1-(0.08/1+0.08)^36)/0.08] I 15,265

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