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document.write( "A set of clients are seeking car loan financial advice. They are able to make monthly payments of $350
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document.write( "on a 6-year car loan. You know that the car dealership is able to offer them an annual interest rate of 4%.
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document.write( "How large of a loan can they get?
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document.write( "Use the formula for the monthly payment for a loan\r\n" );
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document.write( " M = 
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document.write( "where L is the loan amount; r = 
is the effective interest rate per month;\r\n" );
document.write( "n is the number of payments (same as the number of months); M is the monthly payment.\r\n" );
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document.write( "From this formula, the expression for the maximum loan is\r\n" );
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document.write( " L = 
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document.write( "In this problem M = $350; r = , n = 6*12 = 72 monthly payments.\r\n" );
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document.write( "Substitute these values into the formula and get for the maximum loan amount\r\n" );
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document.write( " L = 
= $22,371.11 (rounded to the closest greater cent).\r\n" );
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document.write( "ANSWER. The maximum loan amount is $22,371.11.\r\n" );
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document.write( "Solved.\r
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