Question: John is looking for a new car. He has a down payment of$1,000.00and wants to pay$350.00per month for5years. The best deal he found for an

John is looking for a new car. He has a down payment of$1,000.00and wants to pay$350.00per month for5years. The best deal he found for an amortized loan is his local bank, at a rate of2.05%. What is the highest price car he should consider buying?

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