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You are thinking of buying a used Ford Fusion. You haveshopped around and found three comparable cars: 1) Cheap Used Cars--$11,000; 2) Barney's Bargain Cars--$12,500
You are thinking of buying a used Ford Fusion. You haveshopped around and found three comparable cars:
1) Cheap Used Cars--$11,000;
2) Barney's Bargain Cars--$12,500 and a $1000 rebate;
3)ABC Cars and Trucks--$11,999 with 2% financing on a 48 monthloan.
What is the real price of the car at each of the dealers iflocal car loan rates are 5%?
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