In August 2008 a car manufacturing company was offering the

Last updated: 4/17/2023

In August 2008 a car manufacturing company was offering the choice of a 3 2 loan for 48 months or 7000 cash ba on the purchase of a 25 367 car a If someone took the 3 2 loan offer how much will the monthly payment be b If someone took the 7000 cash back offer and can borrow money from their local credit union at 6 9 interest compounded monthly for four years how much will the monthly payment be c Which of the two offers is more favorable a The monthly payment someone would pay for the 3 2 loan offer would be Round to the nearest cent as needed