What is the most expensive car you could afford

Reference no: EM13302432

You have saved $3,000 for a down payment on a new car. The largest monthly payment you can afford is $450. The loan would have a 11% APR based on end-of-month payments.

a. What is the most expensive car you could afford if you finance it for 48 months?

Reference no: EM13302432

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