Loan calculations iii john has estimated that trading in, Computer Engineering

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Loan calculations iii john has estimated that trading in

Problem

Loan Calculations III John has estimated that trading in his current car and adding the money he has saved will allow him to pay +8000 in cash when he buys a new car. He also feels that his budget can handle a +350 payment each month, but doesn't want to make payments for more than 3 years. His credit union will lend him money at 6.8% APR (monthly compounding). What is the maximum-priced car he can afford?

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