What is the maximum price he can pay for the car

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Matthew wants to take out a loan to buy a car. He calculates that he can make repayments of $5,300 per year. If he can get a four year loan with an interest rate 7%, what is the maximum price he can pay for the car? A.$25,133 B.$17,952 C.$21,542 D.$28,723

Reference no: EM13987797

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What is the maximum price he can pay for the car : Matthew wants to take out a loan to buy a car. He calculates that he can make repayments of $5,300 per year. If he can get a four year loan with an interest rate 7%, what is the maximum price he can pay for the car?

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