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You plan to purchase a new Audi for $80,000 from Honest John's Autoworld. Honest John can offer you a rebate of $8,000 or a low
You plan to purchase a new Audi for $80,000 from Honest John's Autoworld. Honest John can offer you a rebate of $8,000 or a low financing rate of 1.9% for 60 months, your choice. What is the implicit interest rate Honest John is truly charging?
Group of answer choices
11.94%
1.08%
6.20%
5.56%
3.01%
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