You want to buy a new car. You can afford payments of $425 per month and can borrow the money at an interest rate of 4.7%

Question

You want to buy a new car. You can afford payments of $425 per month and can borrow the money
at an interest rate of 4.7% compounded monthly for 5 years.
How much are you able to borrow?

Kunduz · Accepted Answer

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