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You can buy a car that is advertised for $12,000 on the following terms: (a) pay $12,000 and receive a $1,000 rebate from the manufacturer;

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You can buy a car that is advertised for $12,000 on the following terms: (a) pay $12,000 and receive a $1,000 rebate from the manufacturer; (b) pay $250 a month for 4 years for total payments of $12,000, implying zero percent financing. Which is the better deal if the interest rate is 12 APR? (a) (b)

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