John is looking for a new car. He has a down payment of $1,000.00 and wants...

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John is looking for a new car. He has a down payment of $1,000.00 and wants to pay $250.00 per month for 5 years. The best deal he found for an amortized loan is his local bank, at a rate of 2.95%. What is the highest price car he should consider buying? 100343.86 Not quite. Preview $ 100,343.86 John is looking for a new car. He has a down payment of $1,000.00 and wants to pay $250.00 per month for 5 years. The best deal he found for an amortized loan is his local bank, at a rate of 2.95%. What is the highest price car he should consider buying? 100343.86 Not quite. Preview $ 100,343.86

Answer rating: 100% (QA)

To calculate the highest price car John should consider buying we can use the formula for the mo... View the full answer