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    Exam 5: Time Value of Money 2: Analyzing Annuity Cash Flows
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    You Have Reviewed Your Budget and Determine That the Most
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You Have Reviewed Your Budget and Determine That the Most

Question 1

Question 1

Multiple Choice

You have reviewed your budget and determine that the most you can afford on a car loan is $455 per month. What is the most you can borrow if interest rates are 7% and you can pay the loan over 4 years?


A) $19,000.89
B) $19,741.29
C) $20,074.82
D) $21,671.53

Correct Answer:

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