A Car Company Is Offering a Choice of Deals

A car company is offering a choice of deals. You can receive $2,000 cash back on the purchase, or a 2 percent APR, 3-year loan. The price of the car is $17,000 and you could obtain a 3-year loan from your credit union, at 7 percent APR. Which deal is cheaper?

A) The car company's 2 percent 3-year loan.
B) The rebate with the credit union's 7 percent 3-year loan.
C) Neither deal is cheaper.
D) There is not enough information given to determine which deal is cheaper.