Try another version of this question Get help: Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 2: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172
You want to buy a new car. You can afford payments of $500 per month and can borrow the money at an interest rate of 6.5% compounded monthly for 5 years.
How much are you able to borrow?
$
How much interest do you pay?
$
Enter DNE for Does Not Exist, oo for Infinity $25,554.34
Enter DNE for Does Not Exist, oo for Infinity $4,445.66