Lynn can afford a $$420\mathrm{.}00$ per month car payment. She can get a loan at $6\mathrm{.}1\%$ interest for $4$ years.

What is the largest loan she can afford?

She can afford a loan of at most

Time Value of Money Solver

Enter the given values.

$N$:$=$

Number of Compounding Periods

I:$\%=$

Annual Interest Rate as a Percent

PV: $=$

Present Value

PMT: $=$

Solve

Payment

FV: $=$

Solve

Future Value

P$/$Y:

$12$

Payments per Year

C$/$Y:

Compounding Periods per Year

PMT: $=$ END

Payments are made at the end of the period