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You are interested in buying a car. One dealer will sell you a car for $17,000 and is offereing 3.8% 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 3.8% APR financing. The other dealers' price for the same car is $15,000, but with financing at 6.7% 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)? O $294 monthly payment, the $15,000 loan offers the lowest monthly payment O $298 monthly payment, the $17,000 loan offers the lowest monthly payment O $289 monthly payment, the $15,000 loan offers the lowest monthly payment O $305 monthly payment, the $17,000 loan offers the lowest monthly payment .
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