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You are interested in buying a car. One dealer will sell you a car for $17,000 and is offereing 3.9% APR financing. The other dealers'
You are interested in buying a car. One dealer will sell you a car for $17,000 and is offereing 3.9% APR financing. The other dealers' price for the same car is $15,000, but with financing at 7.9% APR. Both loans will be for five years. What is the monthly payment of the loan with a better deal (as determined by monthly payment)? $312 monthly payment, the $17,000 loan offers the lowest monthly payment $303 monthly payment, the $15,000 loan offers the lowest monthly payment $289 monthly payment, the $15,000 loan offers the lowest monthly payment $305 monthly payment, the $17,000 loan offers the lowest monthly payment
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