4. You are interested in purchasing a speedboat. The list price is $35,000 and the manufacturer provides financing over eight years at 3.5% p.a. compound- ing monthly with repayments to be made monthly. One dealer has offered you a $4,500 discount and has offered to provide financing (over eight years) at 5% p.a. compounding monthly with repayments to be made monthly. The question is which terms are more attractive