Raul gutierrez would like to purchase a sport motorcycle, Finance Basics

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Raul gutierrez would like to purchase a sport motorcycle

Question: Raul Gutierrez would like to purchase a sport motorcycle, and can afford a monthly payment of up to $625. He qualifies for a 6 year loan, paid monthly at the end of each month starting with month 1, at a 3.7% annual interest rate, and the dealership requires 10% downpayment that will be paid by his girlfriend. What price motorcycle can he afford?

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