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1. You have decided to purchase a new car; the purchase price is $30,000. This balance can be financed by an auto dealer at 2.9%

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1. You have decided to purchase a new car; the purchase price is $30,000. This balance can be financed by an auto dealer at 2.9% APR with payments over 48 months. Alternatively, you can get a $ 2000 discount on the purchase price if you finance the loan balance at an APR of 8.9% over 48 months. Should you accept the 2.9% financing plan or accept the dealer's offer of a $2,000 rebate with 8.9% financing? Both APRs are compounded monthly. Your goal is minimizing your monthly payment. I will choose the 2.9% without discount.A I will choose 8.9% with discount.B

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