Question: You have saved $ 3 , 0 0 0 for a down payment on a new car. The largest monthly payment you can afford is

You have saved $
3
,
0
0
0
for a down payment on a new car. The largest monthly payment you can afford is $
3
5
0
.
The loan will have a
9
%
APR based on end
-
of
-
month payments.
What is the most expensive car you can afford if you finance it for
4
8
months? Do not round intermediate calculations. Round your answer to the nearest cent.
$
What is the most expensive car you can afford if you finance it for
6
0
months? Do not round intermediate calculations. Round your answer to the nearest cent.

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