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What is the maximum price you can pay for the car

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Reference no: EM133053525

Question - You want to buy a new car, but you can make an initial payment of only $1,700 and can afford monthly payments of at most $725.

a. If the APR on auto loans is 9% and you finance the purchase over 36 months, what is the maximum price you can pay for the car?

b. How much can you afford if you finance the purchase over 48 months?

Reference no: EM133053525

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