question archive You need to buy a new car for $20,000 and these are the options you have been given: 10% down, 3

You need to buy a new car for $20,000 and these are the options you have been given: 10% down, 3

Subject:StatisticsPrice: Bought3

You need to buy a new car for $20,000 and these are the options you have been given:

  1. 10% down, 3.25% interest rate for 5 years
  2. 5% down, 3.75% interest for 5 years
  3. 0% down, 4.25% interest for 5 years
  4. 0% down, 3% interest rate for 4 years

Which option would you take and why? How much will you really be paying for the car? explain yourself with formulas.

pur-new-sol

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