Question: 2 - 1 4 Money is worth 0 . 7 5 % per month to you. You're offered the following deals to buy your new

2-14 Money is worth 0.75% per month to you. You're offered the following deals to buy your new BMW 760Li (with twinturbocharged and intercooled DOHC 32 valve V-8).
Deal A:
Pay no money down
Pay $1,400 per month for 12 months Pay $1,900 per month for the second year (12 months)
Pay $3,400 per month for years 3,4, and 5(36 months)
You own the car!
Deal B:
Pay X amount down today
Pay $2,300 per month for 60 months You own the car!
What is the amount X that you must pay down to make Deal A and Deal B equivalent? Compound monthly.
 2-14 Money is worth 0.75% per month to you. You're offered

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