Walt can afford monthly car payments of $140 for 3 years,starting 1 month from now.The interest rate is 4.6 percent,compounded monthly.How much can he afford to borrow to buy a car?

Name: Walt can afford monthly car payments of $140 for 3 years,starting 1 month from now.The interest rate is 4.6 percent,compounded monthly.How much can he afford to borrow to buy a car?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

PV = $140({1 - 1 / [1 + (0.046 / 12)]³^×12} / (0.046 / 12))= $4,699.31 11ea6c22_9308_64a2_9716_e738cbafa882_TB1200_00

Walt Can Afford Monthly Car Payments of $140 for 3