I am willing to sell you my 2 0 0 5 Honda Civic LX . It's a
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I am willing to sell you my Honda Civic LX It's a real sweet ride with cracked windshield and a missing hub cap. Because it is so old you will not be able to get an auto loan. So I am willing to sell you the car for monthly payments of $ that you will make directly to me No math or anything, let's just call it a loan with a manageable monthly payment. Or I will take $ cash today. Since you do not have the cash you will need to get a personal loan. ICCU is willing to give you a personal loan for months at APR. Which of these is the better deal?
If you make payments of $ directly to me is it really a interest loan? Given the information, what is the real annual rate of interest you would be paying to me if you agreed to make monthly payments of $
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
Posted Date: