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Peter wants to purchase a new car. The dealer has two offers from which Peter can choose. Which is a better deal? 9% APR financing

  • Peter wants to purchase a new car. The dealer has two offers from which Peter can choose. Which is a better deal? 

  • 9% APR financing for 60 months 
  • $1500 cash back with a 3.75% APR over 48 months. 

  • The car Peter wishes to purchase has a value of $27,465 and he has saved $5000 for a down payment.

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