Multiple Choice
You can afford monthly payments of $250, and you find a car dealer offering a 3.9% annual rate compounded monthly on a 5-year loan. Rounded to the nearest $100, what is the most expensive car you can afford?
A) $13,200
B) $13,600
C) $15,000
D) $15,600
Correct Answer:
Verified
Correct Answer:
Verified
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