Derek plans to buy a $29,486.00 car. The dealership offers zero percent financing for 52.00 months with the firstpayment due at signing (today). Derek would be willing to pay for the car in full today if the dealership offers him $cash back. He can borrow money from his bank at an interest rate of 4.72%.SubmitAnswer format: Currency: Round to: 2 decimal places.

Cost of car = $29,486Number of months = 52 monthsInterest rate = 4.72%

Answered: Derek plans to buy a $29,486.00 car.…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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answer in text form please (without image)
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Nn.160. Subject :- Finance
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