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Suppose that you decide to buy a car for $57,000, including taxes and license fees. You saved $13,000 for a down payment. The dealer is
Suppose that you decide to buy a car for $57,000, including taxes and license fees. You saved $13,000 for a down payment. The dealer is offering you a choice between two incentives. Incentive A is $3000 off the price of the car, followed by a four-year loan at 7.22%. Incentive B does not have a cash rebate, but provides free financing (no interest) over four years. n What is the difference in monthly payments between the two offers? Which incentive is the better deal? Use PMT = - nt 1-1 + The difference in monthly payments between the two offers is $ (Round to the nearest cent as needed.)
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