A car dealer offers either 0% financing for 5 years or a $2000 rebate on a $28000

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A car dealer offers either 0% financing for 5 years or a $2000 rebate on a $28000 car. Assuming that you could find a loan for 6% for 60 months, which deal gives you a smaller payment? Show all your work.

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Personal Finance

ISBN: 978-0132994347

5th edition

Authors: Jeff Madura

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Posted Date: May 13, 2023 06:44 AM

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A car dealer offers either 0% financing for 5 years or a $2000 rebate on a $28000

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SOLUTION To compare the two options we can calculate the monthly payment for each deal and then comp... View the full answer

Personal Finance

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