sanmar66us sanmar66us

30-09-2022
Mathematics

Answered

You wish to purchase a new car, and can afford monthly repayments of up to $150 per month. You see a car you like for $6,000, and are offered financing to secure the purchase. The terms of the deal are that the loan lasts for 5 years, and the annual interest rate is 15.9%. Can you afford to purchase the car on finance?

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