32383*1.00 4yr
32383-6122=26261
5.7% will cost you 32.780.17.
Formula: fv=p(1+int/c)^(nt)
26261(1+.057/1)^4=$32780.17 (bank)
future value
principal
int
times/yr
yrs
times/yr
Save 32780.17-32383=$397.17 if you pay full price from your pocket.
CHRISTIAN B.
asked 10/24/20You want to purchase an automobile for $32,383. The dealer offers you 0% financing for 48 months or a $6,122 rebate. You can obtain 5.7% financing for 48 months at the local bank.
a. rebate - correct answer
b. 0% financing
$ _________ (Round to two decimal places.)
32383*1.00 4yr
32383-6122=26261
5.7% will cost you 32.780.17.
Formula: fv=p(1+int/c)^(nt)
26261(1+.057/1)^4=$32780.17 (bank)
future value
principal
int
times/yr
yrs
times/yr
Save 32780.17-32383=$397.17 if you pay full price from your pocket.
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CHRISTIAN B.
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