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A car company is offering a choice of deals. You can receive $2,000 cash back on the purchase or a 3.8 percent APR, 3-year loan.

A car company is offering a choice of deals. You can receive $2,000 cash back on the purchase or a 3.8 percent APR, 3-year loan. The price of the car is $19,000 and you could obtain a 3-year loan from your credit union, at 7.8 percent APR.

Which deal is cheaper? - 3.8 percent APR offer or - $2,000 cash back offer

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