You have saved 3000 for a down payment on a new car the, Financial Management

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You have saved 3000 for a down payment on a new car the

PV and loan eligibility

You have saved $3,000 for a down payment on a new car. The largest monthly payment you can afford is $450. The loan will have a 9% APR based on end-of-month payments.

What is the most expensive car you can afford if you finance it for 48 months? Do not round intermediate calculations. Round your answer to the nearest cent. $

What is the most expensive car you can afford if you finance it for 60 months? Do not round intermediate calculations. Round your answer to the nearest cent. $

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