1) The car of your dreams is priced at $22,000. The dealer is offering to finance...
1) The car of your dreams is priced at $22,000. The dealer is offering to finance 100% of the price at 4.75% over 60 months. Alternatively, a local bank is offering 100% financing at 3.00% over 48 months. If your max monthly payment is $450, which one would you opt for?
a. The dealer
b. The bank
c. Cannot afford either one
Homework Answers
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1) The car of your dreams is priced at $22,000. The dealer is
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7. + 1/2 points Previous Answers CraudColAlg6 1.1.EX.018.MI. 6/100 Submissions Used My Notes Ask Your Teacher You are buying a new car, and you plan to finance your purchase with a loan you will repay over 48 months. The car dealer offers two options: either dealer financing with a low APR, or a $2000 rebate on the purchase price. If you use dealer financing, you will borrow $14,000 at an APR of 3.3%. If you take the rebate, you will...
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both 3 and 4 need to be answered
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