A furniture company is offering a choice of deals. You can receive $500 cash back on the purchase, or a 4 percent APR, 2-year loan. The price of the dining room set is $5,000 and you could obtain a 2-year loan from your credit union at 3 percent APR. What is the cost per month of each deal?
A) cash back: $193.42, 4 percent APR: $217.12
B) cash back: $193.42, 2 percent APR: $214.91
C) cash back: $195.41, 2 percent APR: $217.12
D) cash back: $195.41, 2 percent APR: $214.91
Correct Answer:
Verified
Q151: Bethany purchased a $35,000 car three years
Q152: Jane has been saving $200 in her
Q153: If you start making $90 monthly contributions
Q154: Payday loans are very short-term loans that
Q155: Your current $95,000 mortgage calls for monthly
Q156: If the present value of an ordinary,
Q157: Your current $115,000 mortgage calls for monthly
Q158: If the future value of an ordinary,
Q159: A car company is offering a choice
Q160: A mortgage broker is offering a 30-year
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents