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Question 3. Lisa goes to a car dealership to buy a new truck. The truck that Lisa wants to buy has a manufacturer's suggested retail
Question 3. Lisa goes to a car dealership to buy a new truck. The truck that Lisa wants to buy has a manufacturer's suggested retail price (MSRP) of $25,000. Lisa has only $20,000, hence the salesperson offer her the following deal: Lisa pays $20,000 down payment now and $300 each month thereafter for 24 months. Lisa's opportunity cost is 2% compounded monthly. How good a deal is this relative to the MSRP
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