Mathematics

16 March, 00:53

Derrick wishes to purchase a new car and can afford monthly repayments of up to $200 per month. Financing is available, and the terms of the deal are that the loan lasts for 5 years, and the annual interest rate is 19.9%. What is the maximum price for a car that Derrick's budget can afford?

Round your answer to the nearest hundred dollars.

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