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Suppose that you decide to buy a car for $59,000, including taxes and license fees. You saved $12,000 for a down payment. The dealer is offering you a choice between two incentives. Incentive A is $6000 off the price of the car, followed by a three-year loan at 6.49%. Incentive B does not have a cash rebate, but provides free financing (no interest) over three years. What is the difference in monthly payments between the two offers? Which incentive is the better deal? Use PMT= P [1-(₁ +- -nt ...

Suppose that you decide to buy a car for $59,000, including taxes and license fees. You saved $12,000 for a down payment. The dealer is offering you a choice between two incentives. Incentive A is $6000 off the price of the car, followed by a three-year loan at 6.49%. Incentive B does not have a cash rebate, but provides free financing (no interest) over three years. What is the difference in monthly payments between the two offers? Which incentive is the better deal? Use PMT= P [1-(₁ +- -nt ...

Intermediate Algebra
Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Suppose that you decide to buy a car for $59,000, including taxes and license fees. You saved $12,000 for a down payment. The dealer is offering you a choice between two incentives. Incentive A is $6000 off the price of the car, followed by a three-year loan at 6.49%. Incentive B does not have a cash rebate, but provides free financing (no interest) over three years. What is the difference in monthly payments between the two offers? Which incentive is the better deal? Use PMT= P n [1- (₁ + -) 1 nt ... The difference in monthly payments between the two offers is $ (Round to the nearest cent as needed.)
Transcribed Image Text:Suppose that you decide to buy a car for $59,000, including taxes and license fees. You saved $12,000 for a down payment. The dealer is offering you a choice between two incentives. Incentive A is $6000 off the price of the car, followed by a three-year loan at 6.49%. Incentive B does not have a cash rebate, but provides free financing (no interest) over three years. What is the difference in monthly payments between the two offers? Which incentive is the better deal? Use PMT= P n [1- (₁ + -) 1 nt ... The difference in monthly payments between the two offers is $ (Round to the nearest cent as needed.)
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