New automobile with hypnd-fueled engine

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You have decided to purchase a new automobile with a hypnd-fueled engine and a six-speed transmission. After the trade-in of your present car. the purchase pricc of the nevs automobile is $30,000. This balance can be financed by an auto dealer at 3%APR with payment over 48 months. Alternatively, you can gel a $2000 discount on the purchase price if you finance the loan balance at an APR of 9degreei over 48 months Should you accept the 3 degreeo finance plan or accept the dealer's offer of a $2000 rebate with 9degree c Financing ? Both APR are compounded monthly.

Reference no: EM131096687

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New automobile with hypnd-fueled engine : You have decided to purchase a new automobile with a hypnd-fueled engine and a six-speed transmission. After the trade-in of your present car. the purchase pricc of the nevs automobile is $30,000. This balance can be financed by an auto dealer at 3%A..

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