(SOLVED) You can buy a car advertised for 12 000 on the


Question Description:

$15

You can buy a car advertised for $12,000 on the following terms:
(a) Pay $12,000 and receive a $1,000 rebate from the manufacturer or
(b) Pay $250 a month for 4 years, for total payments of $12,000, implying 0% financing. Which is the better deal if the interest rate is 1% per month?

Answer

$15