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How much can afford to borrow to buy a laptop

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Reference no: EM132889508

Problem 1: Luke can afford monthly payments of £40 for 4 years, starting 4 month from now. The annual interest rate is 6 percent. How much can he afford to borrow to buy a laptop?

Select one:

A. £1715.39

B. £1606.14

C. £1677.92

D. £1641.51

E. £1571.76

Reference no: EM132889508

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