Kangaroo Autos is offering free credit on a new $10,000 car. You pay $1,000 down and then
Question:
Kangaroo Autos is offering free credit on a new $10,000 car. You pay $1,000 down and then $300 a month for the next 30 months. Turtle Motors next door does not offer free credit but will give you $1,000 off the list price. If the rate of interest is 10 percent a year, which company is offering the better deal?
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The fact that Kangaroo Autos is offering free credit tells us ...View the full answer
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Related Book For 
Principles of Corporate Finance
ISBN: 978-0072869460
7th edition
Authors: Richard A. Brealey, Stewart C. Myers
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