Question 8 5 pts You have saved $2,574 for a down payment on a new car....

Question

Question

Question 8 5 pts You have saved $2,574 for a down payment on a new car. The monthly payment you can afford is $472. You will

Answer 1

Answer #1

rate positively ..


We have to use financial calculator to solve this
put in calculator -

FV		0
PMT		-472
I		0.69%
N		48

compute PV	$19,230.32

Downpayment =	2547

Therefore price of car can be afforded = 19230.32+2547	$21,777.32

ans =			$21,777.32

Answer 2

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