Derek plans to buy a $32,246.00 car. The dealership offers zero percent financing for 53.00 months with the first payment 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 5.27%. Submit Answer format: Currency: Round to: 2 decimal places.
Derek plans to buy a $32,246.00 car. The dealership offers zero percent financing for 53.00 months with the first payment 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 5.27%. Submit Answer format: Currency: Round to: 2 decimal places.
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
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Transcribed Image Text:Derek plans to buy a $32,246,00 car. The dealership offers zero percent financing for 53.00 months with the first
payment 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 5.27%.
Submit
Answer format: Currency: Round to: 2 decimal places.
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