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You have decided to purchase a new automobile with a hybrid-fueled engine and a six-speed transmission. After the trade-in of your present car; the purchase price of the new automobile is S32 000. This balance can be financed by the auto dealer at 23% APR (compounded monthly) and repaid over 48 monthly payments. Alternatively, you can get an instant rebate on the purchase price if you finance the loan balance at an APR of 83% (compounded monthly) over 48 months. Determine the amount of the instant rebate that would make you indifferent between the financing plans The amount of the instant rebate that would make you indifferent between the financing plans is (Round to the nearest dollar.)