You are interested in purchasing a new car. The list price is $58,000 and the manufacturer provides financing over five years at 5.5% p.a. compounding monthly with repayments to be made monthly. One dealer has offered you a $4,000 discount and has offered to provide financing (over five years) at 6% p.a. compounding monthly with repayments to be made monthly. The question is which terms are more attractive?