If interest rates are 1050 percent apr what price of car, Financial Management

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If interest rates are 1050 percent apr what price of car

You are looking to buy a car. You can afford $550 in monthly payments for five years. In addition to the loan, you can make a $650 down payment. If interest rates are 10.50 percent APR, what price of car can you afford? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

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