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Pablo bought a new Mercedes for $35,000. He put a down payment of 10% and financed...

Pablo bought a new Mercedes for $35,000. He put a down payment of 10% and financed the rest for 4 years at an interest rate of 7.2%

1. What is his financed amount?

2. What is his monthly payment

3. He wants a $450 monthly car payment. Using the same loan terms, what priced car can he annually afford?

Please show work. Thank you

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