destinybusby16 destinybusby16

13-09-2020
Mathematics

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you can afford a $250 per month car payment. you've found a 3 year loan at 2% interest . how big of a loan can you afford

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lifelongknowledge62 lifelongknowledge62

13-09-2020

Answer:

interest = 250

time = 3 years

rate = 2%

we know

P = I*100/(R*T)

= 250*100/6

=4166.67

Step-by-step explanation:

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