35. If you know that you can afford a $500 per month car payment for the next 48 months, the interest rate is positive and you have found a car dealer who will agre to a zero down payment you will a. Be able to afford a $25,000 car (which is more than $500x48) b. Be able to afford a $24,000 car (which is exactly $500x48) c. Be able to afford something less than a $24,000 car d. Be able to finance a more expensive car when the interest rate is high
35. If you know that you can afford a $500 per month car payment for the next 48 months, the interest rate is positive and you have found a car dealer who will agre to a zero down payment you will a. Be able to afford a $25,000 car (which is more than $500x48) b. Be able to afford a $24,000 car (which is exactly $500x48) c. Be able to afford something less than a $24,000 car d. Be able to finance a more expensive car when the interest rate is high
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![35. If you know that you can afford a $500 per month car payment for the next 48
months, the interest rate is positive and you have found a car dealer who will agree
to a zero down payment you will
a. Be able to afford a $25,000 car (which is more than $500x48)
b. Be able to afford a $24,000 car (which is exactly $500x48)
c. Be able to afford something less than a $24,000 car
d. Be able to finance a more expensive car when the interest rate is high](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6174d633-fd22-4218-a60b-d55ac65bc0c6%2F79673fd6-6b7a-4af8-aad0-3b5e567d8aa7%2F6yj55o9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:35. If you know that you can afford a $500 per month car payment for the next 48
months, the interest rate is positive and you have found a car dealer who will agree
to a zero down payment you will
a. Be able to afford a $25,000 car (which is more than $500x48)
b. Be able to afford a $24,000 car (which is exactly $500x48)
c. Be able to afford something less than a $24,000 car
d. Be able to finance a more expensive car when the interest rate is high
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