Previous Page Next Page Page 22 Question 22 (2.5 points) Saved Listen Tom wants to buy a $30,000 car. He can pay cash now or choose between two payment plans: Plan A. $500 per month for 5 years, the first payment starts exact one month from today. Plan B. $4000 down payment today, $500 per month for years with the first payment due exactly one month from today. Assuming an interest rate of 6% p.a., all else constant, which of the following options should To choose? 1) Payment Plan A O2) All three options in this list are the same 3) There is not enough information provided to answer this question. 4) Pay $30,000 cash now 5) Payment Plan B Previous Page Next Page Page 22 of 40 Submit Quiz