Question
Can you please show calculations instead of Excel version. I've been trying to figure out what it is I'm missing. Thanks. You're purchasing an automobile
Can you please show calculations instead of Excel version. I've been trying to figure out what it is I'm missing. Thanks.
You're purchasing an automobile that costs $25,000. The dealership offers you either a $1,000 rebate applied toward the purchase price, or 3.9% financing for 60 months with the payments done at the end of each month. You're also pre-approved for an auto loan through the local credit union at an interest rate of 7.5% for 60 months. Should you take the $1,000 rebate and finance through the credit union or forgo the rebate and finance through the dealership at the lower 3.9% APR?
Can you please show calculations instead of Excel version. I've been trying to figure out what it is I'm missing. Thanks.
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