After purchasing the BMW, you tell Sally about the great deal you received on the car. Sally loves the car and decides to visit the same BMW dealer. Sally is offered to purchase the exact same vehicle model at the same monthly payment of $735 (for 60 months) as you. Sally's FICO credit rating is 710 and the financing agreement states the interest rate on this loan will be 5.5%  per annum or .4583% monthly. At the time Sally sign the loan documents, what "value" is Sally paying for the BMW?

Answer rating: 100% (QA)

To determine the value Sally is paying for the BMW we can calculate the presen... View the full answer