Question: John is looking for a new car. He has a down payment of $1,000.00 and wants to pay $350.00 per month for 5 years. The

John is looking for a new car. He has a down payment of $1,000.00 and wants to pay $350.00 per month for 5 years. The best deal he found for an amortized loan is his local bank, at a rate of 2.65%. What is the highest price car he should consider buying?

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