You have saved $4,000 for a down payment on a new car. The largest monthly payment you can afford is $350. The loan will have a 12% APR based on end-of-the-month payments. What is the most expensive car you can afford if you finance it for 48 months?
Thanks for your help, and please explain how you came to the answer.
Thanks for your help, and please explain how you came to the answer.