Based upon a monthly payment

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Reference no: EM13771613

Based upon a monthly payment, which one is a better deal on the same $9000 car?

(a) 9% interest on the full amount for 48 months, compounded monthly.

(b) A $1000 rebate and 15% interest on the remaining amount for 48 months, compounded monthly.

Reference no: EM13771613

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