Question: 9) Consider the following two options for financing a car: Option A. Purchase the vehicle at the normal price of $26,200 and pay for the

9) Consider the following two options for financing a car: Option

9) Consider the following two options for financing a car: Option A. Purchase the vehicle at the normal price of $26,200 and pay for the vehicle over three years with equal monthly payments at 1.9% APR financing. Option B. Purchase the vehicle for a discount price of $24,048 to be paid immediately. The funds that would be used to purchase the vehicle are presently earning 5% annual interest compounded monthly. Which option is preferable? Answer Choose Option B

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