Question
During a recent visit to your local new car dealership, the salesperson offered to finance a new $30,000 car at 4.00% over 5 years. You
During a recent visit to your local new car dealership, the salesperson offered to finance a new $30,000 car at 4.00% over 5 years. You have $30,000 in a mutual fund earning 5.50%, compounded monthly.
Should you finance through the dealer or use your savings to purchase the car? Explain.
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
11th edition
134141083, 978-0134141084
