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2. You are planning to buy a car worth $20,000. Which of the two deals described below would you choose? a) The dealer offers to

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2. You are planning to buy a car worth $20,000. Which of the two deals described below would you choose? a) The dealer offers to take 10% off the price, and lend you the balance at the regular financing rate (which is an annual percentage rate of 9%) b) The dealer offers to lend you $20,000 (with no discount) at a special financing rate of 3% \"3 3) Discounted Price Deal 5' ['0 Monthly Cost of borrowing $ 18,000 at 9% APR : $ 373.65 [A monthly rate of 0.75% is used] b) Special Financing Deal 1798245614 Monthly Cost of borrowing $ 20,000 at 3% APR : $ 359.37 The second deal is the better one

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