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How much car can i afford for 400 a month

01/10/2021 Client: muhammad11 Deadline: 2 Day

Dan is contemplating treading in his car for a new one. He can afford a monthly payment of at most $400. If the prevailing interest rate is 4.2%/year compounded monthly for a 48-month loan, what is the most expensive car that dan can afford, assuming that he will receive $8000 for his trade-in?

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