Question

Tiana can afford $150 per month for a car payment. Her bank preapproved her for a 6% interest rate for 5 years. What is the maximum price of a car tiana can afford?

Answer 1

5 YEARS SHE WILL PAY =150 *12 *5 =9000

ON THAT 6% IS INTEREST

VALUE OF THE CAR IS 100- 6 =94 % OF 9000

WHICH IS 9000*.94= 8460