You have reviewed your budget and determine that the most you can afford on a car loan is $375 per month. What is the most you can borrow if interest rates are 8 percent and you can pay the loan over five years?
A) $20,591.86
B) $16,779.02
C) $18,494.41
D) $21,147.83

Question

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The Answer of You have reviewed your budget and determine that the most you can afford on a car loan is $375 per month. What is the most you can borrow if interest rates are 8 percent and you can pay the loan over five years?
A) $20,591.86
B) $16,779.02
C) $18,494.41
D) $21,147.83

You Have Reviewed Your Budget and Determine That the Most