Question: saved $3000 for a down payment on a car. the largest monthly payment you can afford is $400. The loan will be at 8%APR based

saved $3000 for a down payment on a car. the largest monthly payment you can afford is $400. The loan will be at 8%APR based on end of month payments.

a) What is the most expensive car you can afford if you finance for 48 months?

b) What is the most expensive car financing 60 months?

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