EDMENTUM/PLATO Isabel is shopping for her new car. She identified six models she likes at a local dealership. The table lists
the down payment she would need to make on each car to keep the monthly payment within her budget.
Assume that she's using only the money accumulated in her savings account to make the down payment.
Use this information and the appropriate time value of money formula e to select all the cars that are
within Isabel's budget.
is
Choice 1 down payment 8,500
Choice 2 down payment 6,200
Choice 3 down payment 5,100
Choice 4 down payment 7,250
Choice 5 down payment 7,750
Choice 6 down payment 7,500