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47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 A 4) a) b) c) d) B с D E F G Billy Bob would like to purchase a new truck. The salesman has given BB 2 options for financing his truck. He can finance the $30,000 loan at 0% for 60 months, or he can receive a rebate amount and finance with his bank. He will apply the $2000 rebate and finance the difference if he finances with his bank. His bank is offering a rate of 5% for a 60 month loan. What is BB's payment if he takes the dealer's 0% offer? 30000 60 What is BB's payment if he applies the rebate to reduce the loan amount and finances with his bank? Loan amount; 28000 Rate & term; What recommendation would you make to BB? 0.05 Would your recommendation change if BB said he was going to try and pay the loan off within 1 year? If so, how so? 60 H 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 A 4) a) b) c) d) B с D E F G Billy Bob would like to purchase a new truck. The salesman has given BB 2 options for financing his truck. He can finance the $30,000 loan at 0% for 60 months, or he can receive a rebate amount and finance with his bank. He will apply the $2000 rebate and finance the difference if he finances with his bank. His bank is offering a rate of 5% for a 60 month loan. What is BB's payment if he takes the dealer's 0% offer? 30000 60 What is BB's payment if he applies the rebate to reduce the loan amount and finances with his bank? Loan amount; 28000 Rate & term; What recommendation would you make to BB? 0.05 Would your recommendation change if BB said he was going to try and pay the loan off within 1 year? If so, how so? 60 H

Answer rating: 100% (QA)

A BB will pay 500 monthly and eventually he will pay 30000 after th... View the full answer