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| rev | Admin | (Created page with "You are considering buying a car worth $30,000. The dealer, who is anxious to sell the car, offers you an attractive financing package. You have to make a down-payment of $3,500, and pay the rest over 5 years with annual payments. The dealer will charge you interest at a constant annual interest rate of 2%, which may be different from the market interest rate. The dealer offers you a second option: you pay cash, but get a $2,500 rebate. Assume that the market annual int...") | Dec 4'23 at 20:29 | +1,153 |