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You are looking to buy a car and can afford to pay maximum $240 per month. If the interest rate on a 60-month car loan is 6.0% APR, compounded monthly, what is the most expensive car you can afford to buy? Round your answer to the nearest dollar. Your Answer: You are looking to buy a car and can afford to pay maximum $240 per month. If the interest rate on a 60-month car loan is 6.0% APR, compounded monthly, what is the most expensive car you can afford to buy? Round your answer to the nearest dollar. Your Answer:
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To determine the most expensive car you can afford we can use the loan amount formula based on the m... View the full answer
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