Chase plans to buy a new car and determines he can budget $725 monthly for four years. His bank is offering an 8 25% annual interest rate What is the maximum loan he can afford to stay in his budget? Use the formula, A = (p[(1 + r/n) ^ m - 1])/(1/n * (1 + r/n) ^ N) , where Pis the monthly payment, the annual interest rate, nis the number of times interest is compounded in one year and is the number of years.