Business, 27.07.2021 18:40, DrippyGanja
Billy Bob would like to purchase a new truck. The salesman has given BB 2 options for financing his truck. He can finance the $30,000 loan at 0% for 60 months, or he can receive a rebate amount and finance with his bank. He will apply the $2000 rebate and finance the difference if he finances with his bank. His bank is offering a rate of 5% for a 60 month loan.
Required:
a. What is BB's payment if he takes the dealer's 0% offer?
b. What is BB's payment if he applies the rebate to reduce the loan amount and finances with his bank?
Answers: 2
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Billy Bob would like to purchase a new truck. The salesman has given BB 2 options for financing his...
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