You determine that you can afford $356for a car payment but only want to finance it for 4 years. If current auto rate are 8.11% and TTD will cost $1200. How much can you afford to pay for the car itself?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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You determine that you can afford $356for a car payment but only want to finance it for 4 years. If current auto rate are 8.11% and TTD
will cost $1200. How much can you afford to pay for the car itself?
Transcribed Image Text:You determine that you can afford $356for a car payment but only want to finance it for 4 years. If current auto rate are 8.11% and TTD will cost $1200. How much can you afford to pay for the car itself?
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