Valerie estimates that a used vehicle will require regular maintenance every 3 months. The average costs for this is $45. The insurance premiums are estimated at $100 per month. She saves $100 per month for tires and unexpected repairs since there is no warranty on the used vehicle. The interest rate is 11% to finance the vehicle. (Interest rates are traditionally higher on used vehicles.) Valerie can afford $400 per month for four years to buy a vehicle. Excluding tax, tag, and title, approximately what is the most Valerie can pay for a vehicle?
