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Joe wants to buy a car. He sees a car with an asking price of $24,000, and he expects to have the car for 7
Joe wants to buy a car. He sees a car with an asking price of $24,000, and he expects to have the car for 7 years. He can also buy a Corvette for a monthly payment of $1500 for 150 months, and the car is guaranteed to run the entire time. With a monthly interest rate of 0.4%, which vehicle is the better deal, and why?
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Option 1 Buying the Car for 24000 Initial cost 24000 asking price No additional monthly payments ...
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
4th Canadian edition
134724712, 134724713, 9780134779782 , 978-0134724713
