You are borrowing money to buy a car. If you can make payments of $300 per month starting one month from now at an interest rate of 4%, how much will you be able to borrow for the car today if you finance the amount over four years?
A) $6 358.54
B) $13 286.65
C) $13 067.62
D) $15 587.88
Correct Answer:
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