You can buy the car for the list of $99,000. In this case, the dealer is willing
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You can buy the car for the list of $99,000. In this case, the dealer is willing to take $39,000 as an initial payment. The remainder of
$60,000 is a “zero- interest loan” to be paid back in equal installments over 36 months.
Alternatively, your local bank is willing to give you a car loan at an annual interest rate of 10%, compounded monthly (that is, 10%/ 12 per month).
Decide how to finance the car: Bank loan or zero- interest loan with the dealer, or cash payment.
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Related Book For
Principles Of Finance With Excel
ISBN: 9780190296384
3rd Edition
Authors: Simon Benninga, Tal Mofkadi
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