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Kangaroo Autos is offering free credit on a new $14,800 car. You pay $700 down and then $470 a month for the next 30 months.

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Kangaroo Autos is offering free credit on a new $14,800 car. You pay $700 down and then $470 a month for the next 30 months. Turtle Motors next door does not offer free credit but will give you $1,120 off the list price. a. If the rate of interest is 0.67% a month, calculate the present value of the payments to Kangaroo Autos. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value b. Which company is offering the better deal? O Kangaroo Autos O Turtle Motors

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