You go car shopping, knowing that you can afford monthly payments of $400. you also have a trade-in that you know is worth $3000. you intend to take a loan at an interest rate of 5% compounded monthly. if the payments last for 4 years, what is the most expensive car you can afford? round your price to the nearest whole dollar.

  $20,369

Step-by-step explanation:

The annuity formula can tell you the present value P of a monthly payment A made n time at interest rate r per payment period.

  P = A(1 -(1+r)^-n)/r

Here, we have A = 400, r = .05/12, n = 12*4 = 48, so the loan amount can be ...

  P = 400(1 -(1+.05/12)^-48)/(.05/12) ≈ 17,369.18

Adding the value of the trade-in, we find we can afford a car priced at ...

  $3000 + 17,369 = $20,369

step-by-step explanation:

i believe its "c" because all of the other options include a but it could be d because there is a way of financing with cash at certain places but its uncommon.

50-60=10

step-by-step explanation: