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What is the price of the most expensive car

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Question - Kristine U. has saved Php1 Mln and intends to use her savings as a down payment on a new car. After careful examination of her income and expenses, Kristine has concluded that the most she can afford to spend every month on her car payment is Php8,000. The car loan that Kristine uses to buy the car will have an APR of 10%. What is the price of the most expensive car that Kristine can afford she finances her new car for 48 months?

Reference no: EM133045844

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