Question
You plan to buy a Honda car which currently costs $22,000. The car dealer offers the following two options: you can either borrow the entire
You plan to buy a Honda car which currently costs $22,000. The car dealer offers the following two options: you can either borrow the entire amount at low interest rate of 1.99% per year compounded monthly for 36 months or get a cash rebate of $1,000 and borrow at 3.99% per year compounded monthly for 36 months. Which option is better for you?
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown
10th Edition
538482109, 1133711774, 538482389, 9780538482103, 9781133711773, 978-0538482387
