Melanie can afford a $310-per-month car payment. If she is being offered a 5-year car loan with an APR of 3.0%, compounded month
ly, what is the value of the most expensive car she can afford
2 answers:
Here is the answer
$17,252.23
Answer:
The most expensive car Melanie can afford is $17287.43
Step-by-step explanation:
The EMI formula is :
Here we have to find the p
EMI = 310
r = =0.03
n =
Putting values in the formula we get,
dollars
The most expensive car Melanie can afford is $17287.43
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Step-by-step explanation:
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