Question: You have saved $3,000 for a down payment on a new car. The largest monthly payment you can afford is $500 per month. The car

You have saved $3,000 for a down payment on a new car. The largest monthly payment you can afford is $500 per month. The car loan will have an interest rate of 12% per year. What is the most expensive car you can buy today if you plan to finance it for 4 years? [Answer is rounded to the nearest dollar]

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