A car company is offering a choice of deals. You can receive $2,000 cash back on the

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A car company is offering a choice of deals. You can receive $2,000 cash back on the purchase or a 3.6 percent APR, 4-year loan. The price of the car is $18,000 and you could obtain a 4-year loan from your credit union, at 7.6 percent APR.

Which deal is cheaper?

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Finance Applications and Theory

ISBN: 978-0077861681

3rd edition

Authors: Marcia Cornett, Troy Adair

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Posted Date: Mar 03, 2024 10:52 PM

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A car company is offering a choice of deals. You can receive $2,000 cash back on the

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To determine which deal is cheaper we need to compare the total cost of each option over the 4year p... View the full answer

Finance Applications and Theory

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