Charles wants to take out a 5 year loan on a car that costs $15,000. He is trying to make a rough
estimate to decide if he can afford to make the payments. He can afford to pay up to $200 per
month, and he thinks this will be ok. Is his estimate reasonable? Explain.

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The Answer of Charles wants to take out a 5 year loan on a car that costs $15,000. He is trying to make a rough
estimate to decide if he can afford to make the payments. He can afford to pay up to $200 per
month, and he thinks this will be ok. Is his estimate reasonable? Explain.

Charles Wants to Take Out a 5 Year Loan on a Car