You have been given a choice of paying $20,000 for a new GM car with a $3,000 cash rebate (net cost of $17,000 which you
Posted: Wed Mar 30, 2022 3:47 pm
You have been given a choice of paying $20,000 for a new GM car
with a $3,000 cash rebate (net cost of $17,000 which you finance
separately), or zero percent financing for 48 months with no cash
rebate.
What is the implicit rate of interest in this deal?
7.53%
8.21%
5.90%
8.69%
4.30%
Please explain how to calculate thank you
with a $3,000 cash rebate (net cost of $17,000 which you finance
separately), or zero percent financing for 48 months with no cash
rebate.
What is the implicit rate of interest in this deal?
7.53%
8.21%
5.90%
8.69%
4.30%
Please explain how to calculate thank you