Suppose that you decide to buy a car for $62,000, including taxes and license fees. You...
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Suppose that you decide to buy a car for $62,000, including taxes and license fees. You saved $12,000 for a down payment. The dealer is offering you a choice between two incentives. Incentive A is $5000 off the price of the car, followed by a three-year loan at 6.97%. Incentive B does not have a cash rebate, but provides free financing (no interest) over three years. What is the difference in monthly payments between the two offers? Which incentive is the better deal? Use PMT = PA [[1-(+)] nt] The difference in monthly payments between the two offers is $ (Round to the nearest cent as needed.) Suppose that you decide to buy a car for $62,000, including taxes and license fees. You saved $12,000 for a down payment. The dealer is offering you a choice between two incentives. Incentive A is $5000 off the price of the car, followed by a three-year loan at 6.97%. Incentive B does not have a cash rebate, but provides free financing (no interest) over three years. What is the difference in monthly payments between the two offers? Which incentive is the better deal? Use PMT = PA [[1-(+)] nt] The difference in monthly payments between the two offers is $ (Round to the nearest cent as needed.)
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