Cindy has a new job offer but will need a new car for the job. After planning a budget, they determine that they can afford to pay at most $208 per month for a 6-year car loan. If an annual percentage rate of 2.5% is available to finance the car loan, calculate the value of the most expensive car loan that Cindy can afford. Round to the nearest whole number.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 15E
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Cindy has a new job offer but will need a new car for the job. After planning a budget, they determine that they can afford to pay at most $208 per month for a 6-year car loan. If an annual percentage rate of 2.5% is available to finance the car loan, calculate the value of the most expensive car loan that Cindy can afford. Round to the nearest whole number.
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