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You’ve saved $5000 for the down payment on new car. The largest monthly payment you can afford is $350. The loan would’ve a 10% APR based on the end of month payments. What is most expensive car you could afford if you finance it for 48 months? For 60 months? I’ve seen other exs of this on cramster but don’t know how you derive the answer. I tried the equations however had trouble working them out.

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