A car dealer gives you 2 options to buy a $50,000 new car. Option 1 is no

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A car dealer gives you 2 options to buy a $50,000 new car.

Option 1 is no money down but the payback in equal monthly installments for 5 years at 0% interest. The second option is to pay cash for the car and get a $6895 rebate. What is the IRR of the payment option?

Related Book For answer-question

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Posted Date: Apr 25, 2022 06:19 AM

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A car dealer gives you 2 options to buy a $50,000 new car. Option 1 is no

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IRR 599 6 Per year 3D Explanation Given Equal monthly installmen... View the full answer

Mathematical Applications for the Management Life and Social Sciences

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