Question

Denzel needs a new car. At the dealership, he finds the car that he likes. The dealership gives him two payment options:
1. Pay $35,000 for the car today.
2. Pay $4,000 at the end of each quarter for three years.

Required:
Assuming Denzel uses a discount rate of 12% (or 3% quarterly), determine which option gives him the lower cost.



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  • CreatedJuly 15, 2014
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