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How much can todd afford to borrow to buy a car today

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Reference no: EM132996812

Question - Todd is able to pay $160 a month for five years (60 monthly payments) for a car. If the interest rate is a 4.9 percent annual rate, how much can Todd afford to borrow to buy a car today?

A. $6,961.36

B. $8,499.13

C. $8,533.84

D. $8,686.82

E. $9,588.05

Reference no: EM132996812

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