What is the most expensive car you can afford

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You have saved $4,000 for a down payment on a new car. The largest monthly payment you can afford is $350. The loan will have a 12% APR with end-of-month payments.

What is the most expensive car you can afford if you finance it for 48 months? (Show your answer as a positive dollar value with 2 decimal places, without a $. For example, 527.27.)

What is the most expensive car you can afford if you finance it for 60 months? (Show your answer as a positive dollar value with 2 decimal places, without a $. For example, 527.27.)

Reference no: EM132538522

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