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. Robert decided to buy a used motorcycle, on credit, for $ 6 5 0 0 . He can afford payments of $ 3 0
Robert decided to buy a used motorcycle, on credit, for $ He can afford payments of $ and is considering the two following options: A The dealership credit card at compounded daily, and an immediate rebate of off her first purchase. B A bank loan at compounded monthly. a How much would Robert end up paying, in total, with each option? b How much interest would he end up paying for each option? c How long will it take him to pay off the balance for each option? d What should he use; the credit card or the bank loan? Why?
Robert decided to buy a used motorcycle, on credit, for $ He can afford payments of $ and is considering the two following options:
A The dealership credit card at compounded daily, and an immediate rebate of off her first purchase.
B A bank loan at compounded monthly.
a How much would Robert end up paying, in total, with each option?
b How much interest would he end up paying for each option?
c How long will it take him to pay off the balance for each option?
d What should he use; the credit card or the bank loan? Why?
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