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What is the most expensive car you can afford

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Reference no: EM132481015

You have saved $3,000 for a down payment on a new car. The largest monthly payment you can afford is $430. The loan will have a 5% APR based on end-of-month payments.

What is the most expensive car you can afford if you finance it for 48 months?

Reference no: EM132481015

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