The student in Problem 5-27 finds a car she likes and the dealer offers to arrange financing.

Question:

The student in Problem 5-27 finds a car she likes and the offers to arrange financing. His terms are 12% interest for 60 months and no down payment. The car's sticker price is $12,000. Can she afford to purchase this car with her $250 monthly disposable income?
Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...