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Question

I am struggling to figure what to enter into my calculator. Could you please walk me through what to enter into

the calculator and what the formula is.


You can afford a $350 per month car payment. You've found a 5 year loan at 7% interest. How big of a loan can you afford?

Top Answer

Use the simple interest... View the full answer

simple interest.jpg

use simple interest formula
A = P ( it rt )
A = Amount you can afford to pay bags
P. = Prinapal (Amount without interest )
r = Rate of interest per year
+ = Time periods involves in months or...

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