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17) In 2014, some dealers offered two different financing incentives on the Honda Civic. The first option was 0.9% financing for loans from 24 to
17) In 2014, some dealers offered two different financing incentives on the Honda Civic. The first option was 0.9% financing for loans from 24 to 36 months, while the second option was 1.9% for loans from 37 to 60 months. Suppose that a buyer needed to finance |$15,000. (Source: Honda) a) Determine the payment if the buyer chooses the 0.9% financing for 36 months. b) Find the total amount the buyer paid for this option. c) Determine the payment if the buyer chooses the 1.9% financing for 60 months. d) Find he total amount the buyer paid for this option. e) Some buyers look for the lowest payment, while others look for the lowest total cost. Discuss which deal was best and why
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