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Suppose that you decide to buy a car for $ 58,000 , including taxes and license fees. You saved $11,000 for a down payment. The
Suppose that you decide to buy a car for $58,000, including taxes and license fees. You saved
$11,000 for a down payment. The dealer is offering you a choice between two incentives.
Incentive A is $3000 off the price of thecar, followed by a four-year loan at 5.23%.
Incentive B does not have a cashrebate, but provides free financing(no interest) over four years.
What is the difference in monthly payments between the twooffers? Which incentive is the betterdeal?
The difference in monthly payments between the two offers is
.
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