SOLUTION: You can afford a $350 per month car payment. You've found a 3 year loan at 7.2% interest. How big of a loan can you afford?

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Question 1149592: You can afford a $350 per month car payment. You've found a 3 year loan at 7.2% interest. How big of a loan can you afford?
Found 2 solutions by josmiceli, MathTherapy:
Answer by josmiceli(19441)   (Show Source): You can put this solution on YOUR website!
Simple Interest:

You are given:



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The loan can be as big as $10,361.84
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check:


and




OK
Get a 2nd opinion if needed
Answer by MathTherapy(10552)   (Show Source): You can put this solution on YOUR website!

You can afford a $350 per month car payment. You've found a 3 year loan at 7.2% interest. How big of a loan can you afford?
Correct answer:  

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