ou want to buy a new car, but you can make an initial payment of only...

ou want to buy a new car, but you can make an initial payment of only $2,800 and can afford monthly payments of at most $600. a. If the APR on auto loans is 12% and you finance the purchase over 48 months, what is the maximum price you can pay for the car? (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. How much can you afford if you finance the purchase over 60 months? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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SOLVED USING FINANCIAL FORMULA AS WELL AS EXCEL FUNCTION

jeff jeffy answered 1 year ago

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