Benjamin has to purchase a new car and wants to finance at most 3/4 of the total cost of the car (purchase price plus interest). The interest rate for financing right now is 1%. If she has $5,000 to put down, what is the most the car can cost (round to the nearest dollar)?
A) $2,869
B) $14,423
C) $19,423
D) $24,423
E) $29,869
+36916 5000 represents 1/4 of the total cost of the car
so car + int can cost 20 000
removing interest 20 000 / (1.01) = 19801.98 I suppose answer C is the closest to true
