What is the most expensive car you could afford

Assignment Help Finance Basics

Reference no: EM13302061

You have saved $3,000 for a down payment on a new car. The largest monthly payment you can afford is $450. The loan would have a 11% APR based on end-of-month payments.

a. What is the most expensive car you could afford if you finance it for 48 months? Round your answer to the nearest cent.

b. For 60 months? Round your answer to the nearest cent.

Reference no: EM13302061

Questions Cloud

What is the focal length of the negative lens : A student places an object on the 5.0 cm mark of the meter stick. He places a positive lens that he knows has a focal length of 15.0 cm at the 30.0 cm mark on the meter stick. From the data what is the focal length of the negative lens

Explain bohr model and the red line on the spectrum : According to Bohr model, the red line on the spectrum is hydrogen changing from what state (ni= ?) and to what state (nf = ?) ? Give calculation steps below to prove your choice.

What is the dollar amount of each payment jan receives : Jan must report on Schedule B of her IRS Form 1040 the amount of interest that was included in the 2 payments she received during the year.

Determine the modulus of elasticity of the material : A tensile test was performed on a metal specimen having a circular cross section with a diameter of 0.50 inch. The gage length is 2 inches. For a load of 13.5 kips, the elongation was 4.66 x 10-3 inches.

What is the most expensive car you could afford : You have saved $3,000 for a down payment on a new car. The largest monthly payment you can afford is $450. The loan would have a 11% APR based on end-of-month payments.

How to calculate the volume in liters of h2s(g) : Calculate the volume, in liters, of a 4.92 mol H2S(g) at 60 degrees C and 1.75 atm how do you do this

Roles of community standards-local culture in local policing : How would you define the role of the police in our society? Should police in one area be different from the police in another area? Before you answer, consider how different our local communities are in America….life in New York City is far different..

Determine what is the magnitude of fb for the requirement : The cables A and B exert forces FA and FB on the hook. The magnitude of FA is 100 lb. The tension in cable B has been adjusted so that the resultant of the two forces is oriented perpendicular to the wall to which the hook is attached.

What is his value for the focal length of the lens : The Position of the object (wire gauze) on the meter stick is at the 5.00 cm mark. What is his value for the focal length of the lens

User Account

All Pages