Question: You have $ 4 0 0 a month available for a car payment. You would like to buy a $ 2 0 , 0 0

You have $400 a month available for a car payment. You would like to buy a $20,000car. You are offered a 3 year car loan at 4% compounded monthly. Can you afford this? If not, what if it was a 5 year loan?
You have $ 4 0 0 a month available for a car

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