# You are looking at buying a car. The car costs $23,000 and you have $3,000 saved up

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## Question:

You are looking at buying a car. The car costs $23,000 and you have $3,000 saved up for a down payment. You have been pre-approved by your credit union for a 3.00% auto loan for 3 years. The dealer is also offering you a choice between a 0% loan for 3 years or $1,500 cash back.

**How much is your payment if you choose the credit union loan?**

**Related Book For**

## Fundamentals Of Corporate Finance

ISBN: 9780135811603

5th Edition

Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford