Question

You are in the process of purchasing a new automobile that will cost you​ $27,500. The dealership is offering you either a​ $2500 rebate​ (applied toward the purchase​ price) or​ 1.9% financing for 48 months​ (with payments made at the end of the​ month). You have been preminus approved for an auto loan through your local credit union at an interest rate of​ 6.5% for 48 months. If you forgo the​ $2500 rebate and finance your new car through the dealership your monthly payments​ (with payments made at the end of the​ month) will be closest​ to: A. ​$573 B. ​$520 C. ​$595 D. ​$799

Answer 1

Answer:

C. ​$595

Explanation:

The computation of the monthly payment at the end of the month would be computed by using the spreadsheet.

In this two attachment is attached one contains the final values and the other ones contains the formula so that it would create a better understanding

Hence, the monthly payment is $595 and the same is to be considered