New automobile with hyprid fueled engine

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You have decided to purchase a new automobile with a hyprid- fueled engine and a six - speed transmission. After the trade - in of your present car, the purchase price of the new automobile is $30,000. This balance can be financed by an auto dealer al 3% APR with payment, over 4% months. Alternatively, you can get a $2000 discount on the purchase price if you finance the loan balance at an APR of 9% over 48 months. Should you accept the 3 % finance plan or accept the dealer's offer of a $2000 rebate with 9% Financing Both APR are compounded monthly.

Reference no: EM131097234

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