You Are in the Process of Purchasing a New Automobile

question 53

Essay

You are in the process of purchasing a new automobile that will cost you $25,000.The dealership is offering you either a $1000 rebate (applied toward the purchase price)or 3.9% financing for 60 months (with payments made at the end of the month).You have been pre-approved for an auto loan through your local credit union at an interest rate of 7.5% for 60 months.Should you take the $1000 rebate and finance through your credit union or forgo the rebate and finance through the dealership at the lower 3.9% APR?

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Definitions:

Sloughed-Off Epithelial Cells

Cells that have been shed from the epithelium, the layer of cells covering the body surfaces and cavities.

Trypsin

Proteolytic enzyme formed in the small intestine from the inactive pancreatic precursor trypsinogen.

Nucleic Acids

Biomolecules essential for all known forms of life, which include DNA and RNA, responsible for storing and transmitting genetic information.

Enterokinase

Intestinal proteolytic enzyme that converts trypsinogen into trypsin.