Question: Derek plans to buy a $ 3 2 , 7 0 2 . 0 0 car. The dealership offers zero percent financing for 5 1

Derek plans to buy a $32,702.00 car. The dealership offers zero percent financing for 51.00 months with the first payment due at signing (today). Derek would be willing to pay for the car in full today if the dealership offers him $____ cash back. He can borrow money from his bank at an interest rate of 5.29%.
Submit
Answer format: Currency: Round to: 2 decimal places.Derek plans to buy a $32,702.00 car. The dealership offers zero percent financing for 51.00 months with the first
payment due at signing (today). Derek would be willing to pay for the car in full today if the dealership offers him $
cash back. He can borrow money from his bank at an interest rate of 5.29%.
Answer format: Currency: Round to: 2 decimal places.
 Derek plans to buy a $32,702.00 car. The dealership offers zero

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!