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Q1 Sally wants to buy a Ford Mustang. The MSRP is $27,940. Ford offers a purchase financing plan with no money down and 36 end-of-month
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Sally wants to buy a Ford Mustang. The MSRP is $27,940. Ford offers a purchase financing plan with no money down and 36 end-of-month payments of $890. Should she buy the car for cash or take Ford's purchase financing? Assume that she has the cash and that she could invest her money and earn at least 6%. What is the present value of all the payments? $ (Round to the nearest cent.)Step by Step Solution
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