As part of Ford's sales campaign, the dealership is offering a $3,000 cash rebate on its utility vehicles which sell for $35,000 or 0.9% financing for 5 years on the entire $35,000 purchase price. You plan to borrow the remaining balance after cash rebate from your local bank at a 4.8% APR. Assume that you would like to make monthly (end of each month) payments for your financing. Which option would you choose between the cash rebate and the 0.9% financing?

What would be the interest rate offered by the bank that makes both options indifferent?