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SteveS, MBA
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If you can afford $300 a month for a car payment and can secure

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If you can afford $300 a month for a car payment and can secure a loan at 5.8% per year compounded monthly for 5 years, what is the loan amount you can afford? I would like to understand which formula to use for this.
Submitted: 6 years ago.
Category: Homework
Expert:  SteveS replied 6 years ago.

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