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| rev | Admin | (Created page with "'''Solution: B''' First use the annuity formula to determine the monthly payments <math>C_a</math> and <math>C_b</math> for dealerships A and B, respectively, ignoring the initial down payments: (a) Dealership A: <math>\mathrm{PV}_a=\$ 18,000, r_a=0.08 / 12</math>, and <math>t=36</math> months <math>\Rightarrow C_a=\$ 564.05</math>. (b) Dealership B: <math>\mathrm{PV}_b=\$ 15,500, r_b=0.10 / 12</math>, and <math>t=36</math> months <math>\Rightarrow C_b=\$ 500.14</math...") | Dec 5'23 at 0:15 | +1,782 |