Downward Motors Has Offered Vicki Either a $2,500 Rebate or a 2%,4-Year

question 154

Essay

Downward Motors has offered Vicki either a $2,500 rebate or a 2%,4-year loan on the new SUV she is purchasing for $33,000 with a $3,000 down payment.Vicki has done her homework and knows that she can get a 6%,4-year loan at his credit union.Should Vicki take the rebate or the 2% loan from the dealer? (Show your key strokes.)

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Definitions:

Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices during a specified period of time.

Foreign-Currency Exchange

The system or process of converting one national currency into another and determining the exchange rates.

Government Budget Deficit

An economic condition occurring when government expenditures exceed its revenue in a fiscal period.

Interest Rate

The percentage charged or earned on a principal sum of money or an investment over a specified period of time.