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You want to purchase an automobile for $ 2 7 , 3 0 0 . The dealer offers you 0 % financing for 6 0

You want to purchase an automobile for $27,300. The dealer offers you 0% financing for 60 months or a $5000 rebate. You can obtain 6.3% financing for 60 months at a local bank. Which option should you choose? (Hint: If you choose the rebate, how much total will you pay for the automobile?)
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