When interest rates are low, some automobile dealers offer foons at 06 APR, a indicated in a 2016 vertiment by a prominent car deale, afterwysero percent financing or can be delt on some models. Zero percent financing means the obvious thing that no interest is being chargest on the loan tot we borrow $1,200 sterest and pay off over 12 months, our monthly payment will be $1,200/12 - $100. Suppose you are buying a new truck at a price of $20,000. you plan tornance your purchase with a sean you will repay over two years. The dealer ones two otions: either dealer tanding with 0% interest, or a $2,000 rebate on the purchase price. If you take the rebate, you will have to go to the local bank for a loan (of $16.000) at an APR of 6.5 Should you take the dealer nancing or the rebate Assume you take the deal that saves you the most money) dealer financing rebate How much would you save over the life of the loans by taking the option you chose? (Round your answer to the nearest cent.) $ look