The salesperson offers, Buy this new car for $25,000 cash or, with appropriate down payment, pay $500

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The salesperson offers, "Buy this new car for $25,000 cash or, with appropriate down payment, pay $500 per month for 48 months at 8% interest."

Assuming that the salesperson does not offer a free lunch, calculate the "appropriate" down payment

A. $1,000.00

B. $4,520.64

C. $5,127.24

D. $8,000.00

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Introductory Statistics

ISBN: 9780470904107

8th Edition

Authors: Prem S. Mann

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Question Posted: Apr 12, 2012 06:09 AM

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The salesperson offers, Buy this new car for $25,000 cash or, with appropriate down payment, pay $500

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B 452064 Computation of the Down payment 500 149925 1...View the full answer

Introductory Statistics

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