Tian can afford to put a down payment of $15,000 on a car. He can also afford to make monthly payments of $245.52 at the end of each month for the next seven years. If Tian is quoted an annual interest rate of 3.49%, what is the highest price he can afford to pay for a car?

Answer rating: 100% (QA)

To find the highest price Tian can afford to pay for a car we need to consider the down payment mont... View the full answer