You want to buy a car. The list price is $10,000. You are able to put down $6,000. The dealer tells you, that he is willing to lend you money at an annual interest rate of 6% but you must be able to pay off the loan in 3.5 years. You can afford $100 monthly payments. 

How much can the dealer lend you? 

Answer rating: 100% (QA)

To calculate the maximum amount the dealer can lend you we need to consider the do... View the full answer