Please Help, I Still Need the Correct Answer

label Algebra
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Assume the car can be purchased for 0% down for 60 months (in lieu of rebate).

A car with a sticker price of $42,600 with factory and dealer rebates of $5,100

Nov 20th, 2014

Since you are paying interest you will be taking the rebate
loan after rebate = 42,600 - 5,100 = 37,500
add on interest = 37,500*0.025*5 = $4687.50
monthly payment =(37,500+4687.50)/60 =42187.50/60 =$703.13 (ANSWER)

This is the correct answer.
Thanks :)

Nov 20th, 2014

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