Question
You can buy a car that is advertised for $15,000 on the following terms: (a) pay $15,000 and receive a $2,000 rebate from the manufacturer;
You can buy a car that is advertised for $15,000 on the following terms: (a) pay $15,000 and receive a $2,000 rebate from the manufacturer; or (b) pay $300 a month for 48 months. Which is the better deal if the interest rate is 6 percent per year and why?
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Finance for Non Financial Managers
Authors: Pierre Bergeron
7th edition
176530835, 978-0176530839
