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A car company is offering a choice of deals. You can receive $500 cash back on the purchase or a 3.3 percent APR, 4-year loan.

A car company is offering a choice of deals. You can receive $500 cash back on the purchase or a 3.3 percent APR, 4-year loan. The price of the car is $16,500 and you could obtain a 4-year loan from your credit union, at 7.3 percent APR.

Which deal is cheaper?

$500 cash back offer

3.3 percent APR offer

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