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Question: Your aunt and uncle are aware that you are taking a finance class and have come to you for advice. They are wanting to replace one of their current vehicles with a new (not leased) vehicle. The models they are currently exploring offer special financing options. The price range for their favorite models is between $23,000 and $27,000, each. They may choose $1,800 customer cash and a 7.5% interest rate for up to 60 months, or they may choose 1.3% interest rate for up to 60 months. The maximum amount of funds they have available for a monthly payment is $625. They do not have savings for a down payment. They are seeking your advice as to which financing option they should choose and the term of financing (3, 4, or 5 years). Simple tams "explaining each concept Output Required: Please provide your aunt and uncle a memo answering their questions in "layman" terms. The memo should not exceed 500 words, but students may use effective graphics (i.e. tables, graphs) to support their answers. Appropriate calculations may be necessary to support your position. Please check the rubric in Moodle for guidance on how the memo will be assessed. Question: Your aunt and uncle are aware that you are taking a finance class and have come to you for advice. They are wanting to replace one of their current vehicles with a new (not leased) vehicle. The models they are currently exploring offer special financing options. The price range for their favorite models is between $23,000 and $27,000, each. They may choose $1,800 customer cash and a 7.5% interest rate for up to 60 months, or they may choose 1.3% interest rate for up to 60 months. The maximum amount of funds they have available for a monthly payment is $625. They do not have savings for a down payment. They are seeking your advice as to which financing option they should choose and the term of financing (3, 4, or 5 years). Simple tams "explaining each concept Output Required: Please provide your aunt and uncle a memo answering their questions in "layman" terms. The memo should not exceed 500 words, but students may use effective graphics (i.e. tables, graphs) to support their answers. Appropriate calculations may be necessary to support your position. Please check the rubric in Moodle for guidance on how the memo will be assessed.
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Answer rating: 100% (QA)
Memo To Aunt and Uncle From Your Name Subject Advice on financing options for new vehicle Date Date Dear Aunt and Uncle I understand that you are cons... View the full answer
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date:
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