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OpenStudy (anonymous):
You can get a car loan with a term of three years at an APR of 5%. If you can afford a monthly payment of $450, how much can you borrow?
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OpenStudy (daniel.ohearn1):
Set this equation up as follows: (5% * 3 * x)/ 12 = 450 This says that some amount of money multiplied by 5% 3 times and all divided by 12 months will get you $450 per month..
OpenStudy (daniel.ohearn1):
You know how to solve for x from here?
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