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You have decided to purchase a new automobile with a hybrid-fueled engine and a six-speed transmission. After the trade-in of your present car, the purchase price of the new automobile is $30,000. This balance can be financed by an auto dealer at 3%APR with payment over months. Alternatively, you can get a $2000 discount on the purchase price if you finance the oa balance at an APR of 9% over 48 months. Should you accept the 3 % finance plan or accept tne dealer's offer of a $2000 rebate with 9% Financing? Both APR are compounded monthly.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91788441

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