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You want to buy a car that lists for 24,000. If you buy the car at list price, you can finance the entire amount at a special 4.9% apr (compounded monthly) offered by the dealership. If you haggle with the salesperson, you can buy the car for 22,500, but you will have to finance through the bank at 6.5%apr (compounded monthly). If you want to pay the car off in 5 yrs, which is the better deal?(Compare monthly payments)

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Category:- Basic Finance
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