Derek plans to buy a $32,479.00 car. The dealership offers zeropercent financing for 60.00 months...

Derek plans to buy a $32,479.00 car. The dealership offers zero percent financing for 60.00 months with the first payment due at signing (today). Derek would be willing to pay for the car in full today if the dealership offers him $____ cash back. He can borrow money from his bank at an interest rate of 5.64%. Currency: Round to: 2 decimal places.

Expert Solution

jeff jeffy answered 2 years ago

Derek plans to buy a $27,043.00 car. The dealership offers zero percent financing for 51.00 months...

Derek plans to buy a $27,043.00 car. The dealership offers zero percent financing for 51.00 months with the first payment due at signing (today). Derek would be willing to pay for the car in full today if the dealership offers him $____ cash back. He can borrow money from his bank at an interest rate of 5.12%.

Derek decides to buy a new car. The dealership offers him achoice of paying $598.00...

Derek decides to buy a new car. The dealership offers him a choice of paying $598.00 per month for 5 years (with the first payment due next month) or paying some amount today. He can borrow money from his bank to buy the car. The bank requires a 6.00% interest rate. What is the most that he would be willing to pay today rather than making the payments?

1. Derek decides to buy a new car. The dealership offers him achoice of paying...

1. Derek decides to buy a new car. The dealership offers him a choice of paying $571.00 per month for 5 years (with the first payment due next month) or paying some amount today. He can borrow money from his bank to buy the car. The bank requires a 6.00% interest rate. What is the most that he would be willing to pay today rather than making the payments?2. Derek plans to buy a $33,258.00 car. The dealership offers zero...

Derek decides to buy a new car. The dealership offers him achoice of paying $515.00...

Derek decides to buy a new car. The dealership offers him a choice of paying $515.00 per month for 5 years (with the first payment due next month) or paying some amount today. He can borrow money from his bank to buy the car. The bank requires a 5.00% interest rate. What is the most that he would be willing to pay today rather than making the payments?Derek plans to buy a $28,418.00 car. The dealership offers zero percent financing...

Derek decides to buy a new car. The dealership offers him achoice of paying $524.00...

Derek decides to buy a new car. The dealership offers him a choice of paying $524.00 per month for 5 years (with the first payment due next month) or paying some amount today. He can borrow money from his bank to buy the car. The bank requires a 5.00% interest rate. What is the most that he would be willing to pay today rather than making the payments?

Derek decides to buy a new car. The dealership offers him achoice of paying $518.00...

Derek decides to buy a new car. The dealership offers him a choice of paying $518.00 per month for 5 years (with the first payment due next month) or paying some amount today. He can borrow money from his bank to buy the car. The bank requires a 6.00% interest rate. What is the most that he would be willing to pay today rather than making the payments? Round to: 2 decimal places.

Derek decides to buy a new car. The dealership offers him achoice of paying $573.00...

Derek decides to buy a new car. The dealership offers him a choice of paying $573.00 per month for 5 years (with the first payment due next month) or paying some $28,774.00 today. He can borrow money from his bank to buy the car. What interest rate makes him indifferent between the two options?-Round answer 2 decimal places.

Derek decides to buy a new car. The dealership offers him a choice of paying $576.00...

Derek decides to buy a new car. The dealership offers him a choice of paying $576.00 per month for 5 years (with the first payment due next month) or paying some amount today. He can borrow money from his bank to buy the car. The bank requires a 6.00% interest rate. What is the most that he would be willing to pay today rather than making the payments? Currency: Round to: 2 decimal places.

Derek decides to buy a new car. The dealership offers him a choice of paying $591.00...

Derek decides to buy a new car. The dealership offers him a choice of paying $591.00 per month for 5 years (with the first payment due next month) or paying some $28,252.00 today. He can borrow money from his bank to buy the car. What interest rate makes him indifferent between the two options?

1/ Assume you purchased a car that costs $14,000. The car dealership is offering financing at...

1/ Assume you purchased a car that costs $14,000. The car dealership is offering financing at 5% per year. How much is your annual payment assuming you financed the car for 5 years? How much did the car actually cost? 2/ At the beginning of the season on April 1, Green Acres Golf Course completed a physical inventory count and found that $3,000 of inventory was still on hand. Throughout the month of April, Green Acres had the following purchase...

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