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Loan Calculations III John has estimated that trading in his current car and adding the money he has saved will allow him to pay +8000 in cash when he buys a new car. He also feels that his budget can handle a +350 payment each month, but doesn't want to make payments for more than 3 years. His credit union will lend him money at 6.8% APR (monthly compounding). What is the maximum-priced car he can afford?

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