Question
1.You are considering buying a new car for $35,000. The dealer offers a 3.6% APR financing for 36 months or $2,000 cash rebate. If you
1.You are considering buying a new car for $35,000. The dealer offers a 3.6% APR financing for 36 months or $2,000 cash rebate. If you prefer the cash rebate offer, then you need to borrow only $33,000 at a higher interest rate. Assume your bank is willing to lend you up to $35,000 at 5.4% APR for 36 months. What would you do?
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Mathematics For Business
Authors: Stanley A Salzman, Charles D Miller, Gary Clendenen
8th Edition
0321357434, 9780321357434
