Question: You have saved $ 5 , 0 0 0 for a down payment on a new car. The largest monthly payment you can afford is

You have saved $5,000 for a down payment on a new car. The largest monthly payment you can afford is $300. The loan will have a 12% APR based on end of month payments. What is the most expensive car you afford if you finance it for 48 months? For 60 months ? Do not round internediate calculations. Round your answers to the nearest cent.

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