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
Posted: Wed Jul 06, 2022 6:28 pm
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.)
How much would you save over the life of the loan by taking therebate? (Round your answer to the nearest cent.)