Leslie Has Been Offered the Choice of Either a $1,000

question 28

Essay

Leslie has been offered the choice of either a $1,000 rebate or a 5.5 percent,48-month loan for the new car she is purchasing.If Leslie will be financing $15,000 and can get a 7.5 percent,48-month loan at her credit union,should she take the $1,000 rebate or the 5.5 percent loan? (Show all work.)

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Definitions:

Redress for Injury

Legal remedy or compensation sought or awarded for harm or loss suffered due to another's act or failure to act.

Monetary Limit

The maximum amount of money that can be claimed or awarded in a particular type of legal case or insurance policy.

Stare Decisis

A legal principle that obligates courts to follow historical case law when making a ruling on a similar case.

Superior Trial Court

A high-level court of law that has the authority to hear both civil and criminal cases, including appeals from lower courts.