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A buyer of a 2003 Protg S Hatchback has a choice of 0% financing for 60 months or a $3600 rebate. He plans to make
A buyer of a 2003 Protg S Hatchback has a choice of 0% financing for 60 months or a $3600 rebate. He plans to make no down payment. The buyer is able to qualify for 7% annual effectivefinancing through his credit union and thereby take advantage of the rebate. Let Y denote hisnegotiated price for the Protg S Hatchback. How large must Y be in order for the 0% dealerfinancing to be preferable?
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