suppose you are buying a new truck at a price of $30,000. You plan to finance your purchase with a loan you will repay o

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answerhappygod
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suppose you are buying a new truck at a price of $30,000. You plan to finance your purchase with a loan you will repay o

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suppose you are buying a new truck at a price of $30,000. Youplan to finance your purchase with a loan you will repay over twoyears. The dealer offers two options: either dealer financingwith 0% interest or a $3,000 rebate on thepurchase price. If you take the rebate, you will have to go to thelocal bank for a loan (of $27,000) at an APR of 6.5%.
How much would you save over the life of the loan by taking therebate? (Round your answer to the nearest cent.)
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