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THIS IS A VEHICLE FINANCE. 1.1 Assignment 5.1 Financing a New...

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Finance

THIS IS A VEHICLE FINANCE. 1.1
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Assignment 5.1 Financing a New Vehicle Total: 34 marks 1. Anders is trying to decide whether he can afford a new car. The car he wishes to purchase will cost him $109 biweekly. He is currently living in an apartment that costs him $800 a month. Heating costs an additional $50 a month. Anders also has a credit card debt that he is paying off with monthly payments of $90. Anders' gross monthly income is $3700. a) Calculate his TDS ratio if he decides to buy the car. (1 mark) b) Can Anders afford to purchase this car? Explain. (2 marks) c) Refer to the Vehicle Features Chart from Module 5, Lesson 1. If Anders is concerned about winter driving, what additional features should he purchase with this vehicle? (1 mark) contin

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