Dan is contemplating trading in his car for a new one. He can afford a monthly...

Dan is contemplating trading in his car for a new one. He can afford a monthly payment of at most $400. If the prevailing interest rate is 4.9%/year compounded monthly for a 48-month loan, what is the most expensive car that Dan can afford, assuming that he will receive $8000 for his trade-in? (Round your answer to the nearest cent.)

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ekkarill92 answered 2 years ago

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